https://www.taxtmi.com/caselaws?id=431386 The Tribunal remitted the case back to the CIT(A) for a specific finding on the year of transfer of the property, emphasizing the importance of clarifying the taxability linked to the transfer year. It highlighted the need to protect revenue interests in asset recovery cases and suggested mechanisms to secure tax liabilities. The appeal was allowed for statistical purposes, directing the CIT(A) to reexamine capital gains calculation based on the clarified transfer year, considering indexed cost of acquisition and improvements. The judgment focused on ensuring due process and a comprehensive reassessment by the CIT(A) in light of the clarified transfer year. en-us Fri, 21 Oct 2022 00:00:00 +0530 Tue, 18 Apr 2023 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431386 The Tribunal remitted the case back to the CIT(A) for a specific finding on the year of transfer of the property, emphasizing the importance of clarifying the taxability linked to the transfer year. It highlighted the need to protect revenue interests in asset recovery cases and suggested mechanisms to secure tax liabilities. The appeal was allowed for statistical purposes, directing the CIT(A) to reexamine capital gains calculation based on the clarified transfer year, considering indexed cost of acquisition and improvements. The judgment focused on ensuring due process and a comprehensive reassessment by the CIT(A) in light of the clarified transfer year. Case-Laws Income Tax Fri, 21 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431386