https://www.taxtmi.com/caselaws?id=428030 The appeal was allowed, and the matter was remanded to the CIT(A) for a detailed order on the legal issues raised by the assessee. The Tribunal found that the revenue wrongly taxed under section 80CCB(2) without considering section 45(6) for capital gains taxation on redemption. The Tribunal agreed that the reassessment u/s 148 was unwarranted solely based on bank transactions and directed the CIT(A) to provide a speaking order addressing the legal points raised, especially regarding the application of section 45(6) for taxation on redemption of units. The decision was set aside for further adjudication to ensure the assessee's right to substantiate claims and the revenue's duty to consider all relevant documents during the proceedings. en-us Tue, 20 Sep 2022 00:00:00 +0530 Thu, 22 Sep 2022 07:40:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428030 The appeal was allowed, and the matter was remanded to the CIT(A) for a detailed order on the legal issues raised by the assessee. The Tribunal found that the revenue wrongly taxed under section 80CCB(2) without considering section 45(6) for capital gains taxation on redemption. The Tribunal agreed that the reassessment u/s 148 was unwarranted solely based on bank transactions and directed the CIT(A) to provide a speaking order addressing the legal points raised, especially regarding the application of section 45(6) for taxation on redemption of units. The decision was set aside for further adjudication to ensure the assessee's right to substantiate claims and the revenue's duty to consider all relevant documents during the proceedings. Case-Laws Income Tax Tue, 20 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428030