https://www.taxtmi.com/caselaws?id=284633 The Tribunal upheld the reopening of assessment under section 147, as the Assessing Officer had information about the sale of plots by the assesses. The assessment was framed in the hands of individuals instead of the Association of Persons due to lack of evidence regarding the AOP's tax filings. The Tribunal directed the AO to reconsider the claim of expenditure on leveling the plot for computing short term capital gains, allowing the assesses' appeals for statistical purposes. en-us Fri, 26 May 2017 00:00:00 +0530 Sat, 30 Nov 2019 15:52:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284633 The Tribunal upheld the reopening of assessment under section 147, as the Assessing Officer had information about the sale of plots by the assesses. The assessment was framed in the hands of individuals instead of the Association of Persons due to lack of evidence regarding the AOP's tax filings. The Tribunal directed the AO to reconsider the claim of expenditure on leveling the plot for computing short term capital gains, allowing the assesses' appeals for statistical purposes. Case-Laws Income Tax Fri, 26 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284633