https://www.taxtmi.com/caselaws?id=373371 The tribunal upheld the deletion of the addition of Rs. 1,06,00,956 under 'Long Term Capital Gain,' dismissing revenue's appeal. Legal grounds of recording satisfaction by the assessing officer were restored for fresh consideration. The tribunal directed the assessing officer to decide on the deduction under section 54B. The penalty under section 271(1)(c) was deleted, with the tribunal affirming the decision and partly allowing the assessee's cross objection. The judgment emphasized the importance of comprehensive adjudication of all legal grounds raised by the assessee. en-us Tue, 08 Jan 2019 00:00:00 +0530 Mon, 19 Jul 2021 14:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373371 The tribunal upheld the deletion of the addition of Rs. 1,06,00,956 under 'Long Term Capital Gain,' dismissing revenue's appeal. Legal grounds of recording satisfaction by the assessing officer were restored for fresh consideration. The tribunal directed the assessing officer to decide on the deduction under section 54B. The penalty under section 271(1)(c) was deleted, with the tribunal affirming the decision and partly allowing the assessee's cross objection. The judgment emphasized the importance of comprehensive adjudication of all legal grounds raised by the assessee. Case-Laws Income Tax Tue, 08 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373371