https://www.taxtmi.com/caselaws?id=410793 The Tribunal partially allowed the appeals, remanding specific issues to the AO for further examination and proper adjudication in accordance with the law. The Tribunal emphasized the necessity of a detailed and lawful assessment of the issues raised by the assessee. The assessee was found entitled to the benefit of telescoping for assessment years where positive income was declared but not for years where losses were declared and set off by the AO. The issue regarding the addition of income on the value of the increase in investments was remanded for re-examination, and the addition on account of forfeiture of share application money was also remanded for further consideration based on the applicable SEBI guidelines. en-us Thu, 05 Aug 2021 00:00:00 +0530 Sat, 07 Aug 2021 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410793 The Tribunal partially allowed the appeals, remanding specific issues to the AO for further examination and proper adjudication in accordance with the law. The Tribunal emphasized the necessity of a detailed and lawful assessment of the issues raised by the assessee. The assessee was found entitled to the benefit of telescoping for assessment years where positive income was declared but not for years where losses were declared and set off by the AO. The issue regarding the addition of income on the value of the increase in investments was remanded for re-examination, and the addition on account of forfeiture of share application money was also remanded for further consideration based on the applicable SEBI guidelines. Case-Laws Income Tax Thu, 05 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410793