https://www.taxtmi.com/caselaws?id=356773 The court affirmed the reopening of assessment due to undisclosed capital gains, leading to the rejection of the waiver of interest request by the Chief Commissioner of Income Tax. The petitioner's argument based on circular guidelines was dismissed, emphasizing that statutory provisions prevail in determining tax liabilities. The court upheld the decision to reject the waiver request, highlighting the importance of adhering to statutory provisions over circular guidelines in tax matters. en-us Wed, 01 Nov 2017 00:00:00 +0530 Mon, 12 Mar 2018 05:48:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356773 The court affirmed the reopening of assessment due to undisclosed capital gains, leading to the rejection of the waiver of interest request by the Chief Commissioner of Income Tax. The petitioner's argument based on circular guidelines was dismissed, emphasizing that statutory provisions prevail in determining tax liabilities. The court upheld the decision to reject the waiver request, highlighting the importance of adhering to statutory provisions over circular guidelines in tax matters. Case-Laws Income Tax Wed, 01 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356773