https://www.taxtmi.com/caselaws?id=393634 The Tribunal allowed the appeal of the assessee, ruling that the addition on account of short-term capital gain was not justified. It held that the transaction was not a colorable device to evade tax, accepted the declared cost of acquisition of land, directed the seized cash to be treated as advance tax, and instructed the charging of interest under Section 234B after adjusting the seized cash. en-us Mon, 06 Jan 2020 00:00:00 +0530 Fri, 20 Mar 2020 13:08:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393634 The Tribunal allowed the appeal of the assessee, ruling that the addition on account of short-term capital gain was not justified. It held that the transaction was not a colorable device to evade tax, accepted the declared cost of acquisition of land, directed the seized cash to be treated as advance tax, and instructed the charging of interest under Section 234B after adjusting the seized cash. Case-Laws Income Tax Mon, 06 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393634