https://www.taxtmi.com/caselaws?id=390740 The Tribunal upheld the maintainability of an appeal where the tax effect exceeded Rs. 50 lakhs, recalling the order for fresh adjudication. Another appeal with a tax effect below Rs. 50 lakhs was dismissed based on CBDT Circular No.17 of 2019. The Tribunal confirmed the deletion of additions on unexplained investment and alleged brokerage income due to lack of evidence. Additionally, the Tribunal upheld the deletion of an addition made under section 50C of the Income Tax Act, ruling that the land in question was not a capital asset. The Tribunal dismissed all appeals, emphasizing accurate tax effect calculations and the need for supporting evidence in assessment proceedings. en-us Wed, 08 Jan 2020 00:00:00 +0530 Fri, 10 Jan 2020 07:08:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390740 The Tribunal upheld the maintainability of an appeal where the tax effect exceeded Rs. 50 lakhs, recalling the order for fresh adjudication. Another appeal with a tax effect below Rs. 50 lakhs was dismissed based on CBDT Circular No.17 of 2019. The Tribunal confirmed the deletion of additions on unexplained investment and alleged brokerage income due to lack of evidence. Additionally, the Tribunal upheld the deletion of an addition made under section 50C of the Income Tax Act, ruling that the land in question was not a capital asset. The Tribunal dismissed all appeals, emphasizing accurate tax effect calculations and the need for supporting evidence in assessment proceedings. Case-Laws Income Tax Wed, 08 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390740