SRI ALAGAPPA MUTHIAH(HUF),BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-2(4), BANGALORE

In the result, both the appeals of the assessees are allowed\nand revenue appeals are dismissed

54E, 54EA, 54EB, 54F, 54G and 54H shall be\nchargeable to income tax under the head capital gains\nand by legal fiction it is deemed to be the income of the\nprevious year in which the transfer took place. The\nmode of computation as prescribed under Section 48\nwould indicate that the income chargeable under the\nhead capital gains shall

SRI ALAGAPPA ANNAMALAI(HUF),BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(4), BANGALORE

In the result, both the appeals of the assessees are allowed\nand revenue appeals are dismissed