https://www.taxtmi.com/caselaws?id=235390 The High Court admitted the quantum appeal based on substantial questions of law, including issues related to setting aside bogus capital gains and admitting additional evidence. The penalty appeal was also admitted, challenging penalties under the Income Tax Act. The Assessing Officer deemed share transactions as undisclosed income, leading to a significant addition to the assessee's total income. The Tribunal's decision to admit evidence and remand issues back to the Assessing Officer was upheld. The High Court dismissed both appeals due to prolonged case proceedings and lack of clarity on fresh orders, affirming the Tribunal's decisions. en-us Fri, 12 Jul 2013 00:00:00 +0530 Mon, 22 Jul 2013 09:54:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235390 The High Court admitted the quantum appeal based on substantial questions of law, including issues related to setting aside bogus capital gains and admitting additional evidence. The penalty appeal was also admitted, challenging penalties under the Income Tax Act. The Assessing Officer deemed share transactions as undisclosed income, leading to a significant addition to the assessee's total income. The Tribunal's decision to admit evidence and remand issues back to the Assessing Officer was upheld. The High Court dismissed both appeals due to prolonged case proceedings and lack of clarity on fresh orders, affirming the Tribunal's decisions. Case-Laws Income Tax Fri, 12 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235390