1980 (8) TMI 111 - AT - Income Tax

Summary

The ITAT CALCUTTA-B upheld the decision of the AAC that the assessee was not liable to be taxed on capital gains of Rs. 38,415 from the sale of a property in Calcutta. The Tribunal preferred the decisions of the Karnataka and Madras High Courts over the Kerala High Court decision, leading to the dismissal of the Revenue's appeal. (Case: ITAT CALCUTTA-B, 1980 (8) TMI 111)