2018 (12) TMI 1797

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....sh Pai, Adv. For The Respondent : Jeevan J. Neeralgi, Adv. JUDGMENT Ravi Malinath, J. - The assessee is an individual. She filed her return of income for the Assessment Year 2012-13 declaring a total income of Rs. 10,84,850/-. The same was processed under Section 143(1) of the Income Tax Act, 1961, (for short, 'the Act'). It was subsequently selected for scrutiny. Notices were iss....

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....mstances of the case and the law applicable, the finding and the conclusion of the Tribunal that the assessment order passed under Section 143(3) of the Income Tax Act, 1961, dated 20-3-2015 is erroneous in so far as it is prejudicial to the interests of Revenue under Section 263 of the Income Tax Act, 1961 is correct? ii.  Whether on the facts and in the circumstances of the case an....

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....land is "stock in trade" for entities involved in the development and sale of land or a capital asset? 3. Sri S. Sushant Venkatesh Pai, the learned counsel for the appellant, primarily, contends that the matter was sent back for determination in accordance with law. Certain facts are recorded. However, the same would affect the assessee. Hence, he pleads that the Assessing Officer be directed t....