https://www.taxtmi.com/caselaws?id=215739 The case involved disputes regarding the validity of the notice under sec.143(2) of the I.T. Act and the applicability of sec.69/69A/69B. The Tribunal held that challenging the notice was crucial, leading to a flawed assessment due to its absence. The Assessing Officer's application of sec.69/69A/69B to undisclosed income was rejected, supporting the Assessee's position that the income belonged to a prior assessment year. The Tribunal remanded the assessment for a reevaluation, considering detailed capital gains calculations and ultimately accepting the Assessee's Cross Objection on the assessment's validity, dismissing the Revenue's appeal. en-us Tue, 10 Jul 2012 00:00:00 +0530 Thu, 16 Aug 2012 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215739 The case involved disputes regarding the validity of the notice under sec.143(2) of the I.T. Act and the applicability of sec.69/69A/69B. The Tribunal held that challenging the notice was crucial, leading to a flawed assessment due to its absence. The Assessing Officer's application of sec.69/69A/69B to undisclosed income was rejected, supporting the Assessee's position that the income belonged to a prior assessment year. The Tribunal remanded the assessment for a reevaluation, considering detailed capital gains calculations and ultimately accepting the Assessee's Cross Objection on the assessment's validity, dismissing the Revenue's appeal. Case-Laws Income Tax Tue, 10 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215739