121 results for “capital gains”+ Reopening of Assessmentclear
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In the result, the appeal of the Revenue is allowed and the appeal of the
Bench: S/Shri Chandra Poojari, Am & George George K., Jm
capital gain as provided under Section 50B of the Income Tax Act. The assessment was made by invoking powers under Section 147 of the Act which was also challenged by the assessee in appeal. In this case, the first appellate authority allowed the appeal on both the grounds that is by cancelling the income escaping assessment as passed without jurisdiction