https://www.taxtmi.com/caselaws?id=38801 When an original assessment is set aside and a fresh assessment is made, the earlier order is treated as wiped out and tax liability must be determined afresh under the Act. In that setting, the appellate authorities may allow a new ground to be raised even if it was not taken in the original assessment appeal, where it bears on the true taxability of the receipt. The article also notes that sale proceeds of loom hours were treated as capital receipts and, if taxable at all, as capital gains under the applicable charging provision. The reference was answered in favour of the Revenue. 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 When an original assessment is set aside and a fresh assessment is made, the earlier order is treated as wiped out and tax liability must be determined afresh under the Act. In that setting, the appellate authorities may allow a new ground to be raised even if it was not taken in the original assessment appeal, where it bears on the true taxability of the receipt. The article also notes that sale proceeds of loom hours were treated as capital receipts and, if taxable at all, as capital gains under the applicable charging provision. The reference was answered in favour of the Revenue. Case-Laws Income Tax Wed, 01 Oct 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38801