https://www.taxtmi.com/caselaws?id=413011 The Tribunal upheld the initiation of reassessment proceedings under Section 147 of the Act, dismissing the appeal against the reopening of the case. However, the Tribunal directed the deletion of the addition related to Hardship Compensation, considering it as capital receipts and not taxable income. The appeal was partly allowed, with the Tribunal ruling in favor of the assessee on the treatment of Hardship Compensation as capital receipts. en-us Wed, 29 Sep 2021 00:00:00 +0530 Fri, 01 Oct 2021 10:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413011 The Tribunal upheld the initiation of reassessment proceedings under Section 147 of the Act, dismissing the appeal against the reopening of the case. However, the Tribunal directed the deletion of the addition related to Hardship Compensation, considering it as capital receipts and not taxable income. The appeal was partly allowed, with the Tribunal ruling in favor of the assessee on the treatment of Hardship Compensation as capital receipts. Case-Laws Income Tax Wed, 29 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413011