https://www.taxtmi.com/caselaws?id=212765 Reassessment beyond four years was sustained because the recorded reasons relied on later verification of the No Objection Certificate and were treated as sufficient to invoke reopening jurisdiction, even though the issue had been examined earlier. On capital gains, the Tribunal held that transfer occurred when the agreements to sell were acted upon, possession was handed over, substantial consideration was received, and the transaction satisfied section 2(47)(v) read with section 53A; the later Chapter XX-C clearance did not defer that date. As the investment in the new property fell outside the permitted time window, deduction under sections 54 and 54F was denied. en-us Tue, 10 Jan 2012 00:00:00 +0530 Fri, 24 May 2013 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212765 Reassessment beyond four years was sustained because the recorded reasons relied on later verification of the No Objection Certificate and were treated as sufficient to invoke reopening jurisdiction, even though the issue had been examined earlier. On capital gains, the Tribunal held that transfer occurred when the agreements to sell were acted upon, possession was handed over, substantial consideration was received, and the transaction satisfied section 2(47)(v) read with section 53A; the later Chapter XX-C clearance did not defer that date. As the investment in the new property fell outside the permitted time window, deduction under sections 54 and 54F was denied. Case-Laws Income Tax Tue, 10 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212765