https://www.taxtmi.com/caselaws?id=425848 The Tribunal upheld the CIT(A)'s decision that the reopening of the assessment was invalid under Section 147 of the Income Tax Act, as it did not meet the conditions set out in the proviso. The Tribunal dismissed the Revenue's appeal, affirming that income from the sale of shares and mutual funds should be treated as capital gains, as initially assessed. en-us Fri, 29 Jul 2022 00:00:00 +0530 Tue, 02 Aug 2022 09:45:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425848 The Tribunal upheld the CIT(A)'s decision that the reopening of the assessment was invalid under Section 147 of the Income Tax Act, as it did not meet the conditions set out in the proviso. The Tribunal dismissed the Revenue's appeal, affirming that income from the sale of shares and mutual funds should be treated as capital gains, as initially assessed. Case-Laws Income Tax Fri, 29 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425848