https://www.taxtmi.com/caselaws?id=253709 The Tribunal held that the reassessment proceedings initiated by the Assessing Officer were invalid as there was no new tangible material. Consequently, the reassessment order was quashed. The Tribunal found that treating short-term capital gains as business income and disallowing additional depreciation on windmills lacked statutory support. The appeal of the assessee was allowed, and the cross-appeal of the Revenue was dismissed as infructuous. en-us Mon, 24 Nov 2014 00:00:00 +0530 Tue, 02 Dec 2014 08:39:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253709 The Tribunal held that the reassessment proceedings initiated by the Assessing Officer were invalid as there was no new tangible material. Consequently, the reassessment order was quashed. The Tribunal found that treating short-term capital gains as business income and disallowing additional depreciation on windmills lacked statutory support. The appeal of the assessee was allowed, and the cross-appeal of the Revenue was dismissed as infructuous. Case-Laws Income Tax Mon, 24 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253709