https://www.taxtmi.com/caselaws?id=429339 The Tribunal upheld the orders passed under section 263 of the Income Tax Act, setting aside the assessment order and directing a reassessment. The Tribunal also confirmed the disallowance of expenses claimed in the profit and loss account due to the cessation of business activities and upheld the taxation of capital gains from the transfer of property. The appeals filed by the assessee were dismissed, affirming the correctness of the decisions made by the authorities. en-us Wed, 12 Oct 2022 00:00:00 +0530 Sat, 22 Oct 2022 10:05:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429339 The Tribunal upheld the orders passed under section 263 of the Income Tax Act, setting aside the assessment order and directing a reassessment. The Tribunal also confirmed the disallowance of expenses claimed in the profit and loss account due to the cessation of business activities and upheld the taxation of capital gains from the transfer of property. The appeals filed by the assessee were dismissed, affirming the correctness of the decisions made by the authorities. Case-Laws Income Tax Wed, 12 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429339