https://www.taxtmi.com/caselaws?id=257120 The Revenue's appeal and the assessee's Cross Objection were directed against the CIT(A)'s order for the assessment year 2004-05. The Revenue challenged the quantum relief granted on capital gains from the sale of land, while the assessee contested the treatment of advance received for the sale of a site and the reopening of assessment u/s 147. The CIT(A) ruled in favor of the assessee, stating that the AO's lower cost of indexation was not justified. The Tribunal held the reassessment was without jurisdiction, leading to the dismissal of the Revenue's appeal and the allowance of the assessee's Cross Objection. en-us Wed, 31 Dec 2014 00:00:00 +0530 Tue, 03 Mar 2015 07:51:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257120 The Revenue's appeal and the assessee's Cross Objection were directed against the CIT(A)'s order for the assessment year 2004-05. The Revenue challenged the quantum relief granted on capital gains from the sale of land, while the assessee contested the treatment of advance received for the sale of a site and the reopening of assessment u/s 147. The CIT(A) ruled in favor of the assessee, stating that the AO's lower cost of indexation was not justified. The Tribunal held the reassessment was without jurisdiction, leading to the dismissal of the Revenue's appeal and the allowance of the assessee's Cross Objection. Case-Laws Income Tax Wed, 31 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257120