Satyaveer Singh Vs ITO

Whether reopeing of assessment and addition made is valid as assessee fails to prove the facts which are especially within his notice and knowledge and failed to discharge his onus - YES : ITAT

- Assessee's appeal dismissed: JAIPUR ITAT

Whether a piece of agricultural land located in rural areas would qualify as a capital asset and whether proceeds from sale of such land would be taxable under Section 45 r/w Section 48 of the I-T Act - NO: ITAT

- Revenue's appeal dismissed: AHMEDABAD ITAT

Whether even if assessee has been consistently allowed deduction u/s 80IC, lower authorities can modify quantum of profits disclosed by assessee – YES: ITAT. - Assessee's appeals dismissed: KOLKATA ITAT