https://www.taxtmi.com/caselaws?id=38801 Fresh assessments made after the original assessments are set aside replace the earlier assessments, requiring tax liability to be determined afresh under the applicable charging provisions. Appellate authorities may therefore allow an assessee to raise a new ground not taken in appeals from the original assessments where it concerns the correct tax character of a receipt. Sale proceeds from loom hours were characterised as capital receipts rather than revenue receipts and could be taxed, if at all, only as capital gains under the applicable provision. The earlier failure to raise that contention did not bar its consideration in appeals from the fresh assessments. en-us Wed, 01 Oct 1975 00:00:00 +0530 Fri, 09 Apr 2010 11:20:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38801 Fresh assessments made after the original assessments are set aside replace the earlier assessments, requiring tax liability to be determined afresh under the applicable charging provisions. Appellate authorities may therefore allow an assessee to raise a new ground not taken in appeals from the original assessments where it concerns the correct tax character of a receipt. Sale proceeds from loom hours were characterised as capital receipts rather than revenue receipts and could be taxed, if at all, only as capital gains under the applicable provision. The earlier failure to raise that contention did not bar its consideration in appeals from the fresh assessments. Case-Laws Income Tax Wed, 01 Oct 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38801