https://www.taxtmi.com/caselaws?id=172982 The HC upheld the Tribunal's decision, affirming the CIT's directive for a fresh assessment under section 263 of the Income-tax Act, 1961, due to errors in the original assessment. The HC agreed with the Tribunal that profits from the sale of shares and units should be treated as capital gains, not business income, based on factual determinations. Additionally, the HC concurred that the CIT could not address section 14A issues without prior notice, dismissing the appeal as no substantial question of law arose. en-us Thu, 28 Feb 2008 00:00:00 +0530 Thu, 21 Dec 2023 15:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172982 The HC upheld the Tribunal's decision, affirming the CIT's directive for a fresh assessment under section 263 of the Income-tax Act, 1961, due to errors in the original assessment. The HC agreed with the Tribunal that profits from the sale of shares and units should be treated as capital gains, not business income, based on factual determinations. Additionally, the HC concurred that the CIT could not address section 14A issues without prior notice, dismissing the appeal as no substantial question of law arose. Case-Laws Income Tax Thu, 28 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172982