https://www.taxtmi.com/caselaws?id=178479 The Tribunal dismissed the revenue's appeal and allowed the assessee's cross objection. It upheld the CIT(A)'s findings that the sale transaction was not an adventure in the nature of trade. Additionally, the Tribunal quashed the enhancement of income by treating agricultural income as non-agricultural income, as the assessee was not given a reasonable opportunity to contest the enhancement. The Tribunal emphasized that the CIT(A) cannot enhance an assessment without providing the appellant with a chance to respond, leading to the dismissal of the revenue's appeal. en-us Mon, 04 Jul 2011 00:00:00 +0530 Fri, 05 Feb 2016 16:43:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178479 The Tribunal dismissed the revenue's appeal and allowed the assessee's cross objection. It upheld the CIT(A)'s findings that the sale transaction was not an adventure in the nature of trade. Additionally, the Tribunal quashed the enhancement of income by treating agricultural income as non-agricultural income, as the assessee was not given a reasonable opportunity to contest the enhancement. The Tribunal emphasized that the CIT(A) cannot enhance an assessment without providing the appellant with a chance to respond, leading to the dismissal of the revenue's appeal. Case-Laws Income Tax Mon, 04 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178479