https://www.taxtmi.com/caselaws?id=72008 The Tribunal upheld the AO's jurisdiction under Section 147 of the IT Act, 1961, stating valid reasons existed for income escapement. The Tribunal affirmed the deletion of Rs. 4,93,739 in capital gains by the CIT(A), as the income did not arise in the relevant assessment year. The cross-objections by the assessee were partly allowed, while the Department's appeal was dismissed. en-us Fri, 11 Apr 2008 00:00:00 +0530 Tue, 05 Nov 2013 14:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=72008 The Tribunal upheld the AO's jurisdiction under Section 147 of the IT Act, 1961, stating valid reasons existed for income escapement. The Tribunal affirmed the deletion of Rs. 4,93,739 in capital gains by the CIT(A), as the income did not arise in the relevant assessment year. The cross-objections by the assessee were partly allowed, while the Department's appeal was dismissed. Case-Laws Income Tax Fri, 11 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=72008