https://www.taxtmi.com/caselaws?id=329802 The Court upheld the decision of the Income Tax Appellate Tribunal, dismissing the appeal challenging the reassessment of the assessee's income. The Tribunal's quashing of the order dated 29th October, 2010, and reliance on specific legal principles, including the interpretation of Section 145 of the Income Tax Act, were deemed appropriate. The Court emphasized the distinction between capital and revenue receipts, ruling in favor of the Tribunal's decision and directing each party to bear their own costs. en-us Fri, 10 Jun 2016 00:00:00 +0530 Wed, 10 Aug 2016 18:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329802 The Court upheld the decision of the Income Tax Appellate Tribunal, dismissing the appeal challenging the reassessment of the assessee's income. The Tribunal's quashing of the order dated 29th October, 2010, and reliance on specific legal principles, including the interpretation of Section 145 of the Income Tax Act, were deemed appropriate. The Court emphasized the distinction between capital and revenue receipts, ruling in favor of the Tribunal's decision and directing each party to bear their own costs. Case-Laws Income Tax Fri, 10 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329802