Tribunal held that transfer of land owned by partnership firm to its partners, transferred  at cost by book entry which is  Adjusted against capital balance of partner is  not taxable as capital gains. Tribunal relied on the Judgement of Bombay High Court in CIT v. Mehta and Bros (1995) 214 ITR 716  (Bom)(HC),  where in the Court held that the transfer of   immoveable property belonging to the firm to its partners by means of book entry is not valid. Tribunal held that once the transfer is treated as not valid because of mere passing of book entry, there cannot be any capital gain. Addition is deleted. (AY. 2017-18)   (ITA No. 691 /Pune /2024 dt.25-10-2024)