https://www.taxtmi.com/caselaws?id=421911 The appeal challenged the assessing officer's jurisdiction under section 153C of the Income-tax Act, 1961 for the Assessment Year 2008-09. The Tribunal found the assessment order to be illegal and beyond jurisdiction, leading to its quashing. Regarding the addition of undisclosed capital gain and unaccounted sales consideration, the Tribunal deleted the enhancement made by the ld. CIT (A) as it was based on incorrect presumptions, aligning the addition with the actual sale price. The issue of charging interest under sections 234A and 234B was not specifically addressed due to the deletion of the additions on merits. en-us Fri, 29 Apr 2022 00:00:00 +0530 Wed, 04 May 2022 08:32:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421911 The appeal challenged the assessing officer's jurisdiction under section 153C of the Income-tax Act, 1961 for the Assessment Year 2008-09. The Tribunal found the assessment order to be illegal and beyond jurisdiction, leading to its quashing. Regarding the addition of undisclosed capital gain and unaccounted sales consideration, the Tribunal deleted the enhancement made by the ld. CIT (A) as it was based on incorrect presumptions, aligning the addition with the actual sale price. The issue of charging interest under sections 234A and 234B was not specifically addressed due to the deletion of the additions on merits. Case-Laws Income Tax Fri, 29 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421911