https://www.taxtmi.com/caselaws?id=406226 The Appellate Tribunal, ITAT Jaipur, ruled in favor of the appellant, partially allowing the appeal. The Tribunal set aside the assessment proceedings under section 147, emphasizing the lack of a valid basis for reopening the assessment due to the disclosed transaction in the original return of income. The Tribunal held that the additions made by the Assessing Officer were not sustainable and directed the deletion of the trading and long-term capital gain additions. Additionally, the Tribunal invalidated the charging of interest under sections 234A, 234B, and 234C, directing their deletion. en-us Tue, 30 Mar 2021 00:00:00 +0530 Fri, 09 Apr 2021 07:58:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406226 The Appellate Tribunal, ITAT Jaipur, ruled in favor of the appellant, partially allowing the appeal. The Tribunal set aside the assessment proceedings under section 147, emphasizing the lack of a valid basis for reopening the assessment due to the disclosed transaction in the original return of income. The Tribunal held that the additions made by the Assessing Officer were not sustainable and directed the deletion of the trading and long-term capital gain additions. Additionally, the Tribunal invalidated the charging of interest under sections 234A, 234B, and 234C, directing their deletion. Case-Laws Income Tax Tue, 30 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406226