https://www.taxtmi.com/caselaws?id=310041 The Appellate Tribunal ruled in favor of the assessee, holding that the Principal Commissioner of Income Tax's order to reopen the assessment and increase the income from share/commodity transactions was unsustainable. The Tribunal emphasized the finality of assessments settled under the VSV Scheme, preventing further challenges under Section 263 of the Income Tax Act. The decision underscored the binding nature of orders under the VSV Act, ensuring closure of tax disputes and preventing subsequent reassessment. en-us Tue, 18 Apr 2023 00:00:00 +0530 Wed, 04 Oct 2023 07:19:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310041 The Appellate Tribunal ruled in favor of the assessee, holding that the Principal Commissioner of Income Tax's order to reopen the assessment and increase the income from share/commodity transactions was unsustainable. The Tribunal emphasized the finality of assessments settled under the VSV Scheme, preventing further challenges under Section 263 of the Income Tax Act. The decision underscored the binding nature of orders under the VSV Act, ensuring closure of tax disputes and preventing subsequent reassessment. Case-Laws Income Tax Tue, 18 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310041