https://www.taxtmi.com/caselaws?id=364721 The Tribunal validated the notice issued under Section 148 of the Income Tax Act, holding that the Assessing Officer had sufficient cause to believe that income had escaped assessment. The additional ground raised by the assessee was dismissed. Regarding the addition of Rs. 12,19,050/- on the sale of 12 flats, the Tribunal ruled in favor of the assessee, stating that the AO did not establish that the construction was completed beyond the certified value. The addition related to the unsold flats was dismissed as not pressed. The appeal of the assessee was partly allowed. en-us Tue, 31 Jul 2018 00:00:00 +0530 Fri, 03 Aug 2018 08:35:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364721 The Tribunal validated the notice issued under Section 148 of the Income Tax Act, holding that the Assessing Officer had sufficient cause to believe that income had escaped assessment. The additional ground raised by the assessee was dismissed. Regarding the addition of Rs. 12,19,050/- on the sale of 12 flats, the Tribunal ruled in favor of the assessee, stating that the AO did not establish that the construction was completed beyond the certified value. The addition related to the unsold flats was dismissed as not pressed. The appeal of the assessee was partly allowed. Case-Laws Income Tax Tue, 31 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364721