https://www.taxtmi.com/caselaws?id=202682 The Delhi HC set aside the Tribunal's order in a re-assessment case under section 147(a) involving long-term capital gains from compulsory land acquisition. The assessee company claimed exemption under section 54E for enhanced compensation received and invested in bonds. The Assessing Officer denied the exemption, arguing section 54E was inserted by Finance Act 1979 effective from 1-4-1979. The HC ruled that the availability of benefits under section 54E for the year when enhanced compensation was received cannot justify reopening assessment for the earlier year 1965-66, as the assessee had made proper disclosures in relevant returns. en-us Fri, 28 Jan 2011 00:00:00 +0530 Wed, 18 Jun 2025 14:21:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202682 The Delhi HC set aside the Tribunal's order in a re-assessment case under section 147(a) involving long-term capital gains from compulsory land acquisition. The assessee company claimed exemption under section 54E for enhanced compensation received and invested in bonds. The Assessing Officer denied the exemption, arguing section 54E was inserted by Finance Act 1979 effective from 1-4-1979. The HC ruled that the availability of benefits under section 54E for the year when enhanced compensation was received cannot justify reopening assessment for the earlier year 1965-66, as the assessee had made proper disclosures in relevant returns. Case-Laws Income Tax Fri, 28 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202682