https://www.taxtmi.com/caselaws?id=270198 The Tribunal quashed the reopening of the assessment under Section 147 as it was beyond the four-year limitation period and lacked new tangible material. Income from the sale of shares was upheld as Long-Term Capital Gain (LTCG) based on genuine transactions supported by documents. The deduction under Section 54EC was deemed appropriate due to the genuine nature of the transactions. The revenue's appeals were dismissed, and the assessee's cross-objections were allowed. en-us Tue, 10 Nov 2015 00:00:00 +0530 Thu, 31 Dec 2015 12:35:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270198 The Tribunal quashed the reopening of the assessment under Section 147 as it was beyond the four-year limitation period and lacked new tangible material. Income from the sale of shares was upheld as Long-Term Capital Gain (LTCG) based on genuine transactions supported by documents. The deduction under Section 54EC was deemed appropriate due to the genuine nature of the transactions. The revenue's appeals were dismissed, and the assessee's cross-objections were allowed. Case-Laws Income Tax Tue, 10 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270198