https://www.taxtmi.com/caselaws?id=289488 The Tribunal found the reopening of assessment under Section 147/148 of the Income Tax Act invalid due to lack of independent application of mind by the Assessing Officer. The Tribunal allowed the assessee's claims for short-term capital loss on the sale of shares of SKH Auto Components Ltd. and L&T Ltd., as well as the loss on the sale of commercial space. Additionally, the Tribunal upheld the assessee's claim of long-term capital gain on the sale of shares of M/s Advance Automation & Process Control Pvt. Ltd. The revenue's appeal was dismissed. en-us Thu, 06 Dec 2018 00:00:00 +0530 Tue, 04 Aug 2020 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289488 The Tribunal found the reopening of assessment under Section 147/148 of the Income Tax Act invalid due to lack of independent application of mind by the Assessing Officer. The Tribunal allowed the assessee's claims for short-term capital loss on the sale of shares of SKH Auto Components Ltd. and L&T Ltd., as well as the loss on the sale of commercial space. Additionally, the Tribunal upheld the assessee's claim of long-term capital gain on the sale of shares of M/s Advance Automation & Process Control Pvt. Ltd. The revenue's appeal was dismissed. Case-Laws Income Tax Thu, 06 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289488