https://www.taxtmi.com/caselaws?id=331654 The Tribunal upheld the re-opening of the assessment under Section 147 of the Income Tax Act after four years, ruling that income chargeable to tax had indeed escaped assessment. Additionally, the Tribunal affirmed the treatment of the sale of agricultural land as income from business, considering the coordinated efforts in purchasing and selling the land to a property developer. The appeal of the assessee was dismissed, and the decision was pronounced on 22nd July 2016 in Chennai. en-us Fri, 22 Jul 2016 00:00:00 +0530 Tue, 30 Aug 2016 10:59:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331654 The Tribunal upheld the re-opening of the assessment under Section 147 of the Income Tax Act after four years, ruling that income chargeable to tax had indeed escaped assessment. Additionally, the Tribunal affirmed the treatment of the sale of agricultural land as income from business, considering the coordinated efforts in purchasing and selling the land to a property developer. The appeal of the assessee was dismissed, and the decision was pronounced on 22nd July 2016 in Chennai. Case-Laws Income Tax Fri, 22 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331654