https://www.taxtmi.com/caselaws?id=58285 The Tribunal concluded that the transaction did not result in capital gains chargeable to tax under Section 45, as it did not constitute a "transfer" under Section 2(47). The assessee's appeal was allowed, and the revenue's objections regarding the application of Section 52(2) and the valuation of the asset were dismissed. The firm succeeded in its appeal, and the Tribunal directed the ITO to recompute the capital gains based on the originally declared value. en-us Fri, 06 Nov 1987 00:00:00 +0530 Sat, 18 Dec 2010 12:59:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58285 The Tribunal concluded that the transaction did not result in capital gains chargeable to tax under Section 45, as it did not constitute a "transfer" under Section 2(47). The assessee's appeal was allowed, and the revenue's objections regarding the application of Section 52(2) and the valuation of the asset were dismissed. The firm succeeded in its appeal, and the Tribunal directed the ITO to recompute the capital gains based on the originally declared value. Case-Laws Income Tax Fri, 06 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58285