https://www.taxtmi.com/caselaws?id=431525 The ITAT upheld the decision of the Commissioner (Appeals) regarding the addition of long term capital gain and the indexation of property value for the Assessment Year 2016-17. The appeal was dismissed as the assessee failed to rebut the authorities' findings on these matters. The ITAT did not delve into the penalty notice issued under section 271(1)(c) separately, focusing primarily on the capital gain and indexation issues. The judgment emphasizes the necessity of presenting compelling evidence and legal arguments to contest tax assessments successfully. en-us Tue, 13 Dec 2022 00:00:00 +0530 Wed, 14 Dec 2022 15:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431525 The ITAT upheld the decision of the Commissioner (Appeals) regarding the addition of long term capital gain and the indexation of property value for the Assessment Year 2016-17. The appeal was dismissed as the assessee failed to rebut the authorities' findings on these matters. The ITAT did not delve into the penalty notice issued under section 271(1)(c) separately, focusing primarily on the capital gain and indexation issues. The judgment emphasizes the necessity of presenting compelling evidence and legal arguments to contest tax assessments successfully. Case-Laws Income Tax Tue, 13 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431525