https://www.taxtmi.com/caselaws?id=55226 The Tribunal upheld the Commissioner of Income-tax's order under section 263, directing the Income Tax Officer to conduct fresh assessments due to errors in the original assessments related to the Amnesty Scheme filings and speculation losses. The Tribunal emphasized that if the speculation losses were accurate, the assessee would be granted immunity from penalties and interest as per the Amnesty Scheme circulars. The appeals were dismissed, affirming the need for proper compliance with statutory provisions and accurate assessments under the Income-tax Act. en-us Mon, 11 Nov 1991 00:00:00 +0530 Wed, 24 Nov 2010 16:39:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55226 The Tribunal upheld the Commissioner of Income-tax's order under section 263, directing the Income Tax Officer to conduct fresh assessments due to errors in the original assessments related to the Amnesty Scheme filings and speculation losses. The Tribunal emphasized that if the speculation losses were accurate, the assessee would be granted immunity from penalties and interest as per the Amnesty Scheme circulars. The appeals were dismissed, affirming the need for proper compliance with statutory provisions and accurate assessments under the Income-tax Act. Case-Laws Income Tax Mon, 11 Nov 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55226