https://www.taxtmi.com/caselaws?id=385083 The Tribunal's reasoned remand of a capital gains computation, including examination of fair market value as on 01.04.1981 as the cost of acquisition and the claim under section 54EC, did not justify High Court interference. The Court held that the assessment had to be reconsidered in accordance with law and that the assessee had not shown reasonable cause for failing to produce relevant material during assessment, so additional evidence was rightly declined. In the absence of any substantial question of law, the remand order was upheld and the appeals failed, leaving the issues to be decided afresh by the Assessing Officer. en-us Mon, 05 Aug 2019 00:00:00 +0530 Wed, 28 Aug 2019 10:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385083 The Tribunal's reasoned remand of a capital gains computation, including examination of fair market value as on 01.04.1981 as the cost of acquisition and the claim under section 54EC, did not justify High Court interference. The Court held that the assessment had to be reconsidered in accordance with law and that the assessee had not shown reasonable cause for failing to produce relevant material during assessment, so additional evidence was rightly declined. In the absence of any substantial question of law, the remand order was upheld and the appeals failed, leaving the issues to be decided afresh by the Assessing Officer. Case-Laws Income Tax Mon, 05 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385083