https://www.taxtmi.com/caselaws?id=325318 The High Court dismissed the tax appeals primarily due to the non-issuance of the notice under section 143(2) of the Income Tax Act, emphasizing its essentiality for assessment proceedings. The Court upheld the annulment of assessment proceedings by the CIT(Appeals) and Tribunal, citing the necessity of issuing the notice under section 143(2) for assessments under section 143(3). The decision encompassed issues related to the reassessment order, deduction of indexed cost of acquisition, allowance of long term capital loss, and classification of investment in shares without detailed individual analyses. en-us Thu, 03 Mar 2016 00:00:00 +0530 Wed, 16 Mar 2016 10:18:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325318 The High Court dismissed the tax appeals primarily due to the non-issuance of the notice under section 143(2) of the Income Tax Act, emphasizing its essentiality for assessment proceedings. The Court upheld the annulment of assessment proceedings by the CIT(Appeals) and Tribunal, citing the necessity of issuing the notice under section 143(2) for assessments under section 143(3). The decision encompassed issues related to the reassessment order, deduction of indexed cost of acquisition, allowance of long term capital loss, and classification of investment in shares without detailed individual analyses. Case-Laws Income Tax Thu, 03 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325318