CARMEL EDUCATIONAL TRUST,PATHANAMTHITTA vs. DCIT,CEN- CIRCLE,, KOTTAYAM
In the result, the appeals of the assesses in ITA no
ITA 306/COCH/2019[2006-07]Status: DisposedITAT Cochin30 Sept 2019AY 2006-07
Bench: S/Shri Chandra Poojari, Am & George George K., Jm
gains. Accordingly, we hold that capital receipt accrued to the
assessee in AY 2009-10 and in that assessment year on relinquishment of
trusteeship, which being a capital asset was acquired without any cost of
acquisition, the same cannot be brought to tax as held by the Supreme Court in the
case of B.C. Srinivasa Shetty (supra). This ground
