https://www.taxtmi.com/caselaws?id=58026 The Tribunal upheld the Commissioner of Income Tax (Appeals)' determination that the formation of a partnership firm was a contrived effort to reduce capital gains, ruling that the actual transfer was from the assessee-company to the buyer, not involving the partnership firm. The Tribunal also disallowed the claimed compensation of Rs. 1,49,000 paid to unauthorized occupants, emphasizing that the property was sold subject to existing tenancies and there was no contractual obligation to make such payments. en-us Tue, 14 Jul 1992 00:00:00 +0530 Wed, 15 Dec 2010 18:45:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58026 The Tribunal upheld the Commissioner of Income Tax (Appeals)' determination that the formation of a partnership firm was a contrived effort to reduce capital gains, ruling that the actual transfer was from the assessee-company to the buyer, not involving the partnership firm. The Tribunal also disallowed the claimed compensation of Rs. 1,49,000 paid to unauthorized occupants, emphasizing that the property was sold subject to existing tenancies and there was no contractual obligation to make such payments. Case-Laws Income Tax Tue, 14 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58026