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Income Tax - Highlights / Catch Notes

Home Highlights February 2013 Year 2013 This

Reopening of assessment - The change of the nomenclature from ...


Reassessment of Tax Returns: No Escaping Tax as "Capital Gains" Reclassified to "Undisclosed Income" at Same Tax Rate.

February 4, 2013

Case Laws     Income Tax     HC

Reopening of assessment - The change of the nomenclature from “capital gains” to “undisclosed income” does not result in any escapement of income since the rate of tax is the same under both heads - HC

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