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2013 (12) TMI 1320 - HC - Income TaxValidity of proceedings u/s 263 - Held that:- Following Commissioner of Income Tax versus Atma Ram Tulsyan [2011 (5) TMI 820 - Allahabad High Court] - At no stage, except doubting the sale transactions, the Department doubted the documents which were produced by the assessee to substantiate his claim with regard to capital gains - The Tribunal on appreciation of evidence has rightly found that the transactions in question are genuine transactions - It is a finding of fact based on appraisal of evidence - In the absence of any contrary material the assessment order was framed on presumptions and assumptions - Decided against Revenue.
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