https://www.taxtmi.com/caselaws?id=463893 HC upheld the CIT order dated 16.01.2002 deleting additions treating proceeds from sale of shares as capital gain for the block period up to 31.12.1995, finding the deletion legal and sustainable. The court held the ITAT erred in remanding the matter to the CIT(A) and directing adherence to its earlier order of 31.12.1998; CIT(A) was independently empowered to examine the AO's remand order. The HC set aside the ITAT direction dated 06.11.2015 to include the amount in block-period income and restored the CIT's order. en-us Tue, 30 Jul 2024 00:00:00 +0530 Sat, 20 Sep 2025 15:28:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463893 HC upheld the CIT order dated 16.01.2002 deleting additions treating proceeds from sale of shares as capital gain for the block period up to 31.12.1995, finding the deletion legal and sustainable. The court held the ITAT erred in remanding the matter to the CIT(A) and directing adherence to its earlier order of 31.12.1998; CIT(A) was independently empowered to examine the AO's remand order. The HC set aside the ITAT direction dated 06.11.2015 to include the amount in block-period income and restored the CIT's order. Case-Laws Income Tax Tue, 30 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463893