Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (8) TMI 73 - AT - Income TaxJurisdiction power u/s 263 by CIT(A) - determination of the capital gain is not correctly made by the AO - Held that:- Since the issue of entire capital gain assessable in accordance with the development agreement was held by the Tribunal as assessable for the assessment year 1997- 98 and, therefore, no part of the capital gain is assessable for the assessment year under consideration. Hence, the CIT(A) should have decided the appeal on merits by considering the fact that the capital gain is not assessable for the assessment year 2002-03 when it was assessed for the assessment year 1997-98 and that the amount was actually determined for the assessment year 1997-98 which cannot be assessed again now. Therefore, set aside the order of the CIT(A) in all the appeals under consideration and allow the grounds raised by the assessees in their respective appeals.
|