https://www.taxtmi.com/caselaws?id=251466 The Tribunal quashed the assessment order passed under section 147 of the Income Tax Act, ruling that the reassessment after four years was legally unsustainable as the assessee had disclosed all material facts. Additionally, the Tribunal confirmed the assessee's eligibility for exemption under section 54, as the investment in a new property was made within the stipulated period. Consequently, the assessee's appeal was allowed, leading to the cancellation of the assessment order under section 147 and the affirmation of the exemption under section 54. en-us Fri, 05 Sep 2014 00:00:00 +0530 Mon, 15 Sep 2014 09:34:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251466 The Tribunal quashed the assessment order passed under section 147 of the Income Tax Act, ruling that the reassessment after four years was legally unsustainable as the assessee had disclosed all material facts. Additionally, the Tribunal confirmed the assessee's eligibility for exemption under section 54, as the investment in a new property was made within the stipulated period. Consequently, the assessee's appeal was allowed, leading to the cancellation of the assessment order under section 147 and the affirmation of the exemption under section 54. Case-Laws Income Tax Fri, 05 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251466