https://www.taxtmi.com/caselaws?id=182461 The court upheld the block assessment made under section 158BC on the individual assessee and under section 158BC read with section 158BD on the AOP, based on seized documents proving the sale of a bar hotel as a going concern. The court justified treating the individual and his wife as an AOP for the purpose of earning profits from the property sale. It directed the Assessing Officer to recompute capital gains, consider deductions, and apportion sale consideration appropriately, while confirming the tax rate of 60%. The court also directed recovery of tax arrears from the individual and his wife. en-us Thu, 21 Jan 2010 00:00:00 +0530 Wed, 11 May 2016 12:52:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182461 The court upheld the block assessment made under section 158BC on the individual assessee and under section 158BC read with section 158BD on the AOP, based on seized documents proving the sale of a bar hotel as a going concern. The court justified treating the individual and his wife as an AOP for the purpose of earning profits from the property sale. It directed the Assessing Officer to recompute capital gains, consider deductions, and apportion sale consideration appropriately, while confirming the tax rate of 60%. The court also directed recovery of tax arrears from the individual and his wife. Case-Laws Income Tax Thu, 21 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182461