https://www.taxtmi.com/caselaws?id=68603 The Commissioner of Income Tax (Appeals) upheld the initiation of reassessment proceedings under section 148 of the Income Tax Act and deemed the assessment order passed under sections 147/143(3) as valid. However, due to the lack of detailed explanation in the order regarding short-term capital gains, the issue was sent back to the Commissioner for a more comprehensive decision. Additionally, the estimation of income from bus operations and the addition of short-term capital gains were confirmed, prompting the Commissioner to provide a speaking order after hearing the assessee firm for a thorough consideration. en-us Fri, 06 May 2005 00:00:00 +0530 Thu, 31 Mar 2011 12:53:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68603 The Commissioner of Income Tax (Appeals) upheld the initiation of reassessment proceedings under section 148 of the Income Tax Act and deemed the assessment order passed under sections 147/143(3) as valid. However, due to the lack of detailed explanation in the order regarding short-term capital gains, the issue was sent back to the Commissioner for a more comprehensive decision. Additionally, the estimation of income from bus operations and the addition of short-term capital gains were confirmed, prompting the Commissioner to provide a speaking order after hearing the assessee firm for a thorough consideration. Case-Laws Income Tax Fri, 06 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68603