https://www.taxtmi.com/caselaws?id=58703 The Tribunal partly allowed the Department's appeal by restoring the addition of deemed interest on the outstanding amount against M/s. Apsara Cinema. The cross objection filed by the assessee was dismissed as it was found to be time-barred. The Tribunal upheld the Appellate Assistant Commissioner's findings on the determination of capital gains, ruling that sections 52(1) and 52(2) of the Income Tax Act were not applicable in the case due to the lack of evidence supporting tax avoidance motives. en-us Sat, 02 Jul 1977 00:00:00 +0530 Tue, 21 Dec 2010 16:19:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58703 The Tribunal partly allowed the Department's appeal by restoring the addition of deemed interest on the outstanding amount against M/s. Apsara Cinema. The cross objection filed by the assessee was dismissed as it was found to be time-barred. The Tribunal upheld the Appellate Assistant Commissioner's findings on the determination of capital gains, ruling that sections 52(1) and 52(2) of the Income Tax Act were not applicable in the case due to the lack of evidence supporting tax avoidance motives. Case-Laws Income Tax Sat, 02 Jul 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58703