https://www.taxtmi.com/caselaws?id=59439 The Tribunal upheld the CIT(A)'s decision, confirming no short-term capital gains arose from the revaluation and reconstitution of the partnership firm, as the revaluation was a mere book entry without any transfer of rights. The revenue's appeals were dismissed. The assessees' cross-objections regarding the reopening of assessments under section 147 were dismissed as not pressed. en-us Fri, 22 Dec 2006 00:00:00 +0530 Tue, 27 Feb 2024 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59439 The Tribunal upheld the CIT(A)'s decision, confirming no short-term capital gains arose from the revaluation and reconstitution of the partnership firm, as the revaluation was a mere book entry without any transfer of rights. The revenue's appeals were dismissed. The assessees' cross-objections regarding the reopening of assessments under section 147 were dismissed as not pressed. Case-Laws Income Tax Fri, 22 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59439