M/S BLUE CITY TOWNSHIP & COLONIZERS,AMRITSAR. vs. THE INCOME TAX OFFICER,, AMRITSAR.
ITA 90/ASR/2017[2009-10]Status: DisposedITAT Amritsar14 Jul 2023AY 2009-10
Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee
Section 147Section 148Section 151Section 234ASection 69
Capital Gains' as income of the previous year when the transfer took place, i.e., 1964. Therefore, the assessee was liable to pay additional tax on the income that escaped assessment.”
13. Per contra, the ld. Addl. CIT-DR submitted that it was a case of
deemed escapement of income as per clause (b) to (Explanation
