https://www.taxtmi.com/caselaws?id=254122 The amended limitation period under section 143(2) was applied to a return filed on 31 July 2007, and the notice issued on 16 September 2008 was treated as within time, so the limitation objection failed. On the capital gains year of taxability, transfer was treated as occurring on execution and registration of the sale deed on 26 July 2006 with possession also recorded then, placing the transfer in financial year 2006-07 and making assessment year 2007-08 the correct year, so that objection also failed. On section 50C valuation, unresolved facts on whether the entire land or only part had been transferred required fresh factual verification, so the matter was remanded for de novo adjudication. en-us Fri, 30 May 2014 00:00:00 +0530 Sat, 13 Dec 2014 19:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254122 The amended limitation period under section 143(2) was applied to a return filed on 31 July 2007, and the notice issued on 16 September 2008 was treated as within time, so the limitation objection failed. On the capital gains year of taxability, transfer was treated as occurring on execution and registration of the sale deed on 26 July 2006 with possession also recorded then, placing the transfer in financial year 2006-07 and making assessment year 2007-08 the correct year, so that objection also failed. On section 50C valuation, unresolved facts on whether the entire land or only part had been transferred required fresh factual verification, so the matter was remanded for de novo adjudication. Case-Laws Income Tax Fri, 30 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254122