https://www.taxtmi.com/highlights?id=73207 Reopening of assessment - Correct head of income - LTCG or business income - disallowing indexation on cost of acquisition and treating LTCG as business income - assessee contributed in the form of land in the Joint Development Agreement - the reasons recorded by the Ld AO u/s 148(2) treating the income to chargeable under the head Business and Profession are found to be under wrong appreciation of facts and erroneous application of law, which is not permissible. - AT en-us Fri, 24 Nov 2023 13:59:56 +0530 Fri, 24 Nov 2023 13:59:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=73207 Reopening of assessment - Correct head of income - LTCG or business income - disallowing indexation on cost of acquisition and treating LTCG as business income - assessee contributed in the form of land in the Joint Development Agreement - the reasons recorded by the Ld AO u/s 148(2) treating the income to chargeable under the head Business and Profession are found to be under wrong appreciation of facts and erroneous application of law, which is not permissible. - AT Highlights Income Tax Fri, 24 Nov 2023 13:59:56 +0530 https://www.taxtmi.com/highlights?id=73207