https://www.taxtmi.com/caselaws?id=382134 The Tribunal upheld the validity of the reassessment proceedings under Section 147 initiated by the Assessing Officer based on information received regarding non-disclosure of capital gains. It determined that the full value of consideration for capital gains on the sale of shares should be based on the market value rather than the transaction value. Additionally, it upheld the addition under Section 56(2)(vii) for shares purchased below market value and confirmed the income additions from house property, directing the adoption of municipal valuation for one property. The Tribunal disposed of the appeals accordingly. en-us Fri, 14 Jun 2019 00:00:00 +0530 Mon, 05 Aug 2019 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382134 The Tribunal upheld the validity of the reassessment proceedings under Section 147 initiated by the Assessing Officer based on information received regarding non-disclosure of capital gains. It determined that the full value of consideration for capital gains on the sale of shares should be based on the market value rather than the transaction value. Additionally, it upheld the addition under Section 56(2)(vii) for shares purchased below market value and confirmed the income additions from house property, directing the adoption of municipal valuation for one property. The Tribunal disposed of the appeals accordingly. Case-Laws Income Tax Fri, 14 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382134