INCOME TAX OFFICER, WARD-DIMAPUR, DIMAPUR vs. M/S. PARSURAM SANWARMAL AGARWALLA & SONS, DIMAPUR
In the result, all the appeals of revenue are dismissed
ITA 143/GTY/2020[2011-12]Status: DisposedITAT Guwahati25 Feb 2021AY 2011-12
Bench: Shri A. T. Varkey, Jm]
Section 147Section 148Section 149Section 151
reassessment proceedings after more than four years was clearly barred by time.
There is yet another aspect of the matter. The reason so recorded by the Assessing Officer is, that the petitioner has indicated the computation of long term capital gains tax liability, whereas the petitioner was liable to pay short term capital gains tax since the petitioner had sold