https://www.taxtmi.com/caselaws?id=413509 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to reopen the assessment for Assessment Year 2008-09, dismissing the appellant's challenge on jurisdiction and validity grounds. Additionally, the Tribunal confirmed the addition of Rs. 45,20,000 as sale consideration for computing long term capital gains, rejecting the appellant's arguments regarding distress sale and government appropriation. The Tribunal found the reassessment and addition justified, ultimately dismissing the appeal and affirming the orders on both issues. The judgment was delivered on 8th October 2021 in Chennai. en-us Fri, 08 Oct 2021 00:00:00 +0530 Wed, 13 Oct 2021 08:44:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413509 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to reopen the assessment for Assessment Year 2008-09, dismissing the appellant's challenge on jurisdiction and validity grounds. Additionally, the Tribunal confirmed the addition of Rs. 45,20,000 as sale consideration for computing long term capital gains, rejecting the appellant's arguments regarding distress sale and government appropriation. The Tribunal found the reassessment and addition justified, ultimately dismissing the appeal and affirming the orders on both issues. The judgment was delivered on 8th October 2021 in Chennai. Case-Laws Income Tax Fri, 08 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413509