https://www.taxtmi.com/caselaws?id=391643 The Tribunal upheld the Commissioner of Income Tax's jurisdiction under Section 263, finding errors in allowing deductions under Sections 54B and 54EC without proper inquiry. Disallowance of claims under these sections was upheld due to lack of evidence. The Tribunal allowed brokerage deduction based on precedent and admitted additional evidence under Rule 46A. Capital gains were classified as long-term, enabling indexation benefits. Deductions under Section 54F were upheld. The appeals were dismissed or partly allowed accordingly. en-us Fri, 31 Jan 2020 00:00:00 +0530 Mon, 03 Feb 2020 13:19:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391643 The Tribunal upheld the Commissioner of Income Tax's jurisdiction under Section 263, finding errors in allowing deductions under Sections 54B and 54EC without proper inquiry. Disallowance of claims under these sections was upheld due to lack of evidence. The Tribunal allowed brokerage deduction based on precedent and admitted additional evidence under Rule 46A. Capital gains were classified as long-term, enabling indexation benefits. Deductions under Section 54F were upheld. The appeals were dismissed or partly allowed accordingly. Case-Laws Income Tax Fri, 31 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391643