Dismissing the appeal of the Revenue the Court held that in the absence of any incriminating material, the completed assessment cannot be reiterated and abated assessment or reassessment .Court also held that sale and purchase of agricultural land held to be bogus \/ sham \/ paper transactions . Judgement of Supreme Court rendered after the assessment cannot be said to be incriminating . \u00a0(AY. 2001 -02 to 2003 -04 )<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 153A: Assessment \u2013 Search or requisition-No incriminating material was found \u2013 Sale and purchase of agricultural land held to be bogus \/ sham \/ paper transactions -Judgement of Supreme Court rendered after the assessment cannot be said to be incriminating \u2013 Order of the Tribunal is affirmed [ S.132(4), 260A ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-34416","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8X6","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=34416"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34416\/revisions"}],"predecessor-version":[{"id":34417,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34416\/revisions\/34417"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=34416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=34416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=34416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}