https://www.taxtmi.com/caselaws?id=371273 The High Court upheld the validity of the assessment framed under Section 143(3)/147 of the Income Tax Act, disagreeing with the Tribunal's decision. It directed the Tribunal to re-examine the jurisdiction of the Assessing Officer to tax the assessee as an HUF under Section 147/148. The Court disagreed with the Tribunal's interpretation of Section 292BB and set aside the penalty imposed under Section 271(1)(c), remanding the matters for further adjudication. The appeal was allowed, previous orders were set aside, and the matters were remanded to the Tribunal for re-examination without expressing an opinion on the merits. en-us Mon, 12 Nov 2018 00:00:00 +0530 Sat, 01 Dec 2018 12:41:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371273 The High Court upheld the validity of the assessment framed under Section 143(3)/147 of the Income Tax Act, disagreeing with the Tribunal's decision. It directed the Tribunal to re-examine the jurisdiction of the Assessing Officer to tax the assessee as an HUF under Section 147/148. The Court disagreed with the Tribunal's interpretation of Section 292BB and set aside the penalty imposed under Section 271(1)(c), remanding the matters for further adjudication. The appeal was allowed, previous orders were set aside, and the matters were remanded to the Tribunal for re-examination without expressing an opinion on the merits. Case-Laws Income Tax Mon, 12 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371273