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2018 (1) TMI 899 - HC - Income TaxAssessment of income from sale of plots - income from business or as capital gains - Held that:- The impugned order of the Tribunal stands rectified/modified to the extent that the issue with regard to the applicability of Section 45(2) of the Act has been restored to the Assessing Officer for fresh consideration. We are informed by counsel for the parties that neither the Revenue nor the Assessee is aggrieved by the order dated 1 January 2018 passed by the Tribunal remanding the issue to the Assessing Officer. It would be appropriate as urged by the Revenue to adjourn the hearing of these Appeals sine die to await the final factual determination with regard to the directions made by the Tribunal in paragraph 8 of its order dated 1 January 2018.
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