Petition dismissed; reassessment upheld after forgery doubts over Executive Engineer certificate, capital gains exemption denied SC dismissed the special leave petition and upheld reopening of assessment, denying exemption from capital gains treatment for alleged agricultural land. ...
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Petition dismissed; reassessment upheld after forgery doubts over Executive Engineer certificate, capital gains exemption denied
SC dismissed the special leave petition and upheld reopening of assessment, denying exemption from capital gains treatment for alleged agricultural land. The court found strong evidence that the taxpayer produced a document of doubtful genuineness-specifically the Executive Engineer's certificate purportedly locating the land beyond the municipal limit-which the taxpayer had relied on. Due to serious doubts about the certificate's authenticity, the exemption was refused and the assessment decision was affirmed against the taxpayer.
The Supreme Court dismissed the special leave petition in the case with citation 2017 (2) TMI 452 - SC. Judges were A. K. Sikri and R. K. Agrawal. Petitioner represented by Ms. Manisha T. Karia, Ms. Nidhi Nagpal, and Mr. Mudit Sood.
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