https://www.taxtmi.com/caselaws?id=59099 The tribunal upheld the Commissioner (Appeals)'s decision, treating the income from the reassignment of a shop as long-term capital gain instead of business income. The tribunal determined that the transaction involved the transfer of a capital asset, specifically the right of possession of the shops, and was not part of the firm's stock-in-trade. Therefore, the income was taxable under the head of 'Capital gains,' dismissing the department's appeal and confirming the treatment of the income as long-term capital gain. en-us Tue, 29 Nov 1983 00:00:00 +0530 Thu, 23 Dec 2010 18:55:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59099 The tribunal upheld the Commissioner (Appeals)'s decision, treating the income from the reassignment of a shop as long-term capital gain instead of business income. The tribunal determined that the transaction involved the transfer of a capital asset, specifically the right of possession of the shops, and was not part of the firm's stock-in-trade. Therefore, the income was taxable under the head of 'Capital gains,' dismissing the department's appeal and confirming the treatment of the income as long-term capital gain. Case-Laws Income Tax Tue, 29 Nov 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59099