https://www.taxtmi.com/caselaws?id=36320 Appellate jurisdiction under the Income-tax Act, 1922 was confined ordinarily to objections raised before and decided by the Appellate Assistant Commissioner, so a new contention seeking to tax sale proceeds as capital gains could not be introduced for the first time in second appeal. Because the capital gains issue required fresh factual material, including valuation basis, it did not arise merely from the existing appellate order, and the proper route for taxing escaped income lay under the Act's separate machinery. The Tribunal was therefore justified in refusing to entertain the department's new ground, and the reference was answered in favour of the assessee. en-us Mon, 22 Sep 1980 00:00:00 +0530 Sat, 20 Mar 2010 16:33:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36320 Appellate jurisdiction under the Income-tax Act, 1922 was confined ordinarily to objections raised before and decided by the Appellate Assistant Commissioner, so a new contention seeking to tax sale proceeds as capital gains could not be introduced for the first time in second appeal. Because the capital gains issue required fresh factual material, including valuation basis, it did not arise merely from the existing appellate order, and the proper route for taxing escaped income lay under the Act's separate machinery. The Tribunal was therefore justified in refusing to entertain the department's new ground, and the reference was answered in favour of the assessee. Case-Laws Income Tax Mon, 22 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36320