https://www.taxtmi.com/caselaws?id=303071 The High Court closed the appeal concerning the assessment year 2014-15 under the Income Tax Act, 1961, due to the assessee's submission of a declaration under the Vivad Se Viswas Act (VSV Act). This resulted in the restoration of the original Form 3 and processing accordingly, leading to the closure of the appeal. The Court left substantial legal questions open for future consideration, including the treatment of unexplained Long Term Capital Gains under Section 68 and the alleged organized tax evasion through bogus capital gains. The revenue was given the option to restore the appeal if the VSV Act relief is not obtained. en-us Fri, 01 Apr 2022 00:00:00 +0530 Fri, 01 Jul 2022 20:45:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303071 The High Court closed the appeal concerning the assessment year 2014-15 under the Income Tax Act, 1961, due to the assessee's submission of a declaration under the Vivad Se Viswas Act (VSV Act). This resulted in the restoration of the original Form 3 and processing accordingly, leading to the closure of the appeal. The Court left substantial legal questions open for future consideration, including the treatment of unexplained Long Term Capital Gains under Section 68 and the alleged organized tax evasion through bogus capital gains. The revenue was given the option to restore the appeal if the VSV Act relief is not obtained. Case-Laws Income Tax Fri, 01 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303071