https://www.taxtmi.com/caselaws?id=302681 The Tribunal quashed the assessment framed under Section 148 of the Income Tax Act, holding that it should have been framed under Section 153C due to incriminating documents found during a search on a third party. The Tribunal upheld the CIT(A)'s decisions on sustaining capital gain income and restricting deductions under Section 54B. The appeals of the assessees were allowed, and the assessment under Section 148 was deemed illegal and void ab initio. en-us Thu, 23 Jun 2016 00:00:00 +0530 Sat, 11 Jun 2022 08:57:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302681 The Tribunal quashed the assessment framed under Section 148 of the Income Tax Act, holding that it should have been framed under Section 153C due to incriminating documents found during a search on a third party. The Tribunal upheld the CIT(A)'s decisions on sustaining capital gain income and restricting deductions under Section 54B. The appeals of the assessees were allowed, and the assessment under Section 148 was deemed illegal and void ab initio. Case-Laws Income Tax Thu, 23 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302681