https://www.taxtmi.com/caselaws?id=257703 The delay in filing the Cross Objection was condoned due to the genuine reason of the Chartered Accountant's demise. The assessment included goodwill transfer value, resulting in short term capital gain. The reopening of assessment was deemed valid, with notices under section 142(1)(i) considered invalid. Shares in the successor company were allocated based on capital balances, dismissing the Revenue's appeal. Additional evidence admission was upheld, and the assessment's maintainability was affirmed, ultimately leading to the dismissal of both the Revenue's appeal and the assessee's Cross Objection by the ITAT MUMBAI. en-us Thu, 18 Dec 2014 00:00:00 +0530 Fri, 20 Mar 2015 02:50:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257703 The delay in filing the Cross Objection was condoned due to the genuine reason of the Chartered Accountant's demise. The assessment included goodwill transfer value, resulting in short term capital gain. The reopening of assessment was deemed valid, with notices under section 142(1)(i) considered invalid. Shares in the successor company were allocated based on capital balances, dismissing the Revenue's appeal. Additional evidence admission was upheld, and the assessment's maintainability was affirmed, ultimately leading to the dismissal of both the Revenue's appeal and the assessee's Cross Objection by the ITAT MUMBAI. Case-Laws Income Tax Thu, 18 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257703