https://www.taxtmi.com/caselaws?id=58844 The Tribunal held that capital gains from the sale of land by the assessee-company were not part of commercial profits for distribution as dividends. The Tribunal found that the gains were utilized for acquiring assets and not credited to the profit and loss account. Relying on legal precedents and financial records, the Tribunal dismissed the Revenue's appeals, upholding the cancellation of additional income tax orders for both assessment years. Consequently, the capital gains were not considered in determining the distributable income of the assessee-company. en-us Thu, 31 May 1984 00:00:00 +0530 Wed, 22 Dec 2010 14:43:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58844 The Tribunal held that capital gains from the sale of land by the assessee-company were not part of commercial profits for distribution as dividends. The Tribunal found that the gains were utilized for acquiring assets and not credited to the profit and loss account. Relying on legal precedents and financial records, the Tribunal dismissed the Revenue's appeals, upholding the cancellation of additional income tax orders for both assessment years. Consequently, the capital gains were not considered in determining the distributable income of the assessee-company. Case-Laws Income Tax Thu, 31 May 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58844