https://www.taxtmi.com/caselaws?id=436250 The Tribunal upheld the Assessing Officer's jurisdiction for reassessment under section 148 of the Income Tax Act based on reliable information and prior approval. Gross receipts were classified as income from other sources due to lack of evidence of agricultural income. Expenses were disallowed as evidence was not provided. Unexplained share capital and liabilities were added to the assessment. A rebate on liability created by SEBI was also disallowed. The Tribunal dismissed all appeals, affirming the decisions of the AO and CIT(A) on all grounds. en-us Wed, 15 Mar 2023 00:00:00 +0530 Sat, 08 Apr 2023 08:46:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436250 The Tribunal upheld the Assessing Officer's jurisdiction for reassessment under section 148 of the Income Tax Act based on reliable information and prior approval. Gross receipts were classified as income from other sources due to lack of evidence of agricultural income. Expenses were disallowed as evidence was not provided. Unexplained share capital and liabilities were added to the assessment. A rebate on liability created by SEBI was also disallowed. The Tribunal dismissed all appeals, affirming the decisions of the AO and CIT(A) on all grounds. Case-Laws Income Tax Wed, 15 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436250