https://www.taxtmi.com/caselaws?id=411754 The Tribunal upheld the decisions of the CIT(A) in two appeals filed by the Revenue. In the first appeal (ITA no.3858/Mum./2019), challenging an order under section 143(1) of the Income Tax Act, 1961, related to the assessment year 2015-16, the Tribunal dismissed the appeal based on established legal principles and lack of new evidence, preventing double taxation. In the second appeal (ITA no.3859/Mum./2019), contesting an order under section 154 of the Act regarding capital gains, the Tribunal ruled in favor of the assessee, emphasizing that the godown right was an investment not subject to direct sale, and the project's sales were already taxed by another entity. The Revenue's appeals were dismissed in both cases. en-us Mon, 30 Aug 2021 00:00:00 +0530 Wed, 01 Sep 2021 22:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411754 The Tribunal upheld the decisions of the CIT(A) in two appeals filed by the Revenue. In the first appeal (ITA no.3858/Mum./2019), challenging an order under section 143(1) of the Income Tax Act, 1961, related to the assessment year 2015-16, the Tribunal dismissed the appeal based on established legal principles and lack of new evidence, preventing double taxation. In the second appeal (ITA no.3859/Mum./2019), contesting an order under section 154 of the Act regarding capital gains, the Tribunal ruled in favor of the assessee, emphasizing that the godown right was an investment not subject to direct sale, and the project's sales were already taxed by another entity. The Revenue's appeals were dismissed in both cases. Case-Laws Income Tax Mon, 30 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411754