Section 45, Section 147, Section 56

Gujarat H.C : Where Assessing Officer opined that profit earned by assessee from sale of leasehold land was taxable as capital gain, since there was no failure on part of assessee to disclose all material facts, Assessing Officer could not initiate reassessment proceedings merely on basis of change of opinion that amount in question was liable to be taxed as ‘income from other sources’

High Court Of Gujarat Radhawami Salt Works Vs. Assistant Commissioner of Income-tax Section 45, 56, 147 Assessment year 2010-11 Akil

Section 219, Sec. 234B, Sec. 234C, Section 208

Gujarat H.C : The ITAT was justified in deleting interest u/s. 234B and 234C of the I.T.Act by holding that same would not have been charged on the assessee on account of increase in total income resulting from retrospective amendment to section 43(6) of the Act without appreciating that charging of interest u/s. 234B and 234C of the I.T Act is mandatory

High Court Of Gujarat CIT, Vadodara-2 vs. National Dairy Development Board Section 234B,208, 219, 234C Assessment year 2008-09 Akil Kureshi

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