https://www.taxtmi.com/caselaws?id=235687 The Tribunal remitted the issue of addition on account of capital gain back to the Assessing Officer for fresh consideration, emphasizing the need to address all grounds raised by the appellant, including the applicability of section 50C to leasehold property. Regarding the addition on account of low GP, the Tribunal directed the matter to be reconsidered by the Assessing Officer, highlighting the lack of concrete evidence to support the higher rates of purchases from the sister concern. The Tribunal stressed the importance of providing the appellant with a fair opportunity to present their case. Ultimately, the Tribunal allowed the appeal for statistical purposes, resulting in a favorable outcome for the Assessee. en-us Fri, 14 Jun 2013 00:00:00 +0530 Wed, 31 Jul 2013 09:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235687 The Tribunal remitted the issue of addition on account of capital gain back to the Assessing Officer for fresh consideration, emphasizing the need to address all grounds raised by the appellant, including the applicability of section 50C to leasehold property. Regarding the addition on account of low GP, the Tribunal directed the matter to be reconsidered by the Assessing Officer, highlighting the lack of concrete evidence to support the higher rates of purchases from the sister concern. The Tribunal stressed the importance of providing the appellant with a fair opportunity to present their case. Ultimately, the Tribunal allowed the appeal for statistical purposes, resulting in a favorable outcome for the Assessee. Case-Laws Income Tax Fri, 14 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235687