1985 (10) TMI 130 - AT - Income Tax

Summary

The Department appealed the AAC's deletion of capital gains on silver utensils sold by the assessee. The AAC ruled in favor of the assessee, stating the utensils were personal effects and not capital assets. The ITAT upheld the AAC's decision, dismissing the appeal. (Case: Appellate Tribunal ITAT GAUHATI, Citation: 1985 (10) TMI 130 - ITAT GAUHATI)