https://www.taxtmi.com/caselaws?id=283574 The Tribunal upheld the validity of the reassessment and the addition under short term capital gains. The notice for reopening assessment was issued within the statutory six-year period, dismissing the contention of being served after the allowed period. The addition under short term capital gains was upheld, considering the cost of bonus units received as Nil per Section 55(2)(aa) of the Act. The Tribunal affirmed the decision of the Commissioner of Income Tax (Appeals), dismissing the appeal and providing a detailed legal analysis to support the rulings on both issues raised. en-us Wed, 31 May 2017 00:00:00 +0530 Mon, 30 Sep 2019 23:11:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283574 The Tribunal upheld the validity of the reassessment and the addition under short term capital gains. The notice for reopening assessment was issued within the statutory six-year period, dismissing the contention of being served after the allowed period. The addition under short term capital gains was upheld, considering the cost of bonus units received as Nil per Section 55(2)(aa) of the Act. The Tribunal affirmed the decision of the Commissioner of Income Tax (Appeals), dismissing the appeal and providing a detailed legal analysis to support the rulings on both issues raised. Case-Laws Income Tax Wed, 31 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283574