https://www.taxtmi.com/caselaws?id=220665 The Tribunal held that the Assessing Officer lacked jurisdiction to reopen the assessment after almost 8 years as there was no material to show that the declared short term capital gains were undisclosed income. Consequently, the reassessment was deemed without jurisdiction, leading to the dismissal of the revenue's appeals in ITA Nos. 1462 and 1463 of 2010. The Tribunal also found that changing the nomenclature of declared capital gains to undisclosed income did not result in any under-assessment or escapement of income, ultimately resulting in the dismissal of the revenue's appeals due to the lack of substantial questions of law. en-us Fri, 01 Feb 2013 00:00:00 +0530 Mon, 04 Feb 2013 07:39:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220665 The Tribunal held that the Assessing Officer lacked jurisdiction to reopen the assessment after almost 8 years as there was no material to show that the declared short term capital gains were undisclosed income. Consequently, the reassessment was deemed without jurisdiction, leading to the dismissal of the revenue's appeals in ITA Nos. 1462 and 1463 of 2010. The Tribunal also found that changing the nomenclature of declared capital gains to undisclosed income did not result in any under-assessment or escapement of income, ultimately resulting in the dismissal of the revenue's appeals due to the lack of substantial questions of law. Case-Laws Income Tax Fri, 01 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220665