https://www.taxtmi.com/caselaws?id=180221 The reassessment under section 147 was held valid by the CIT(A) and tribunal due to the Supreme Court's ruling that an intimation under section 143(1) does not constitute an assessment. Regarding the long-term capital gain addition, the tribunal directed the AO to allow increased rebates for various factors, ultimately instructing a recomputation of the capital gain. The appeal was partially allowed, with instructions for the AO to recalculate the capital gain after applying the revised rebates. en-us Thu, 29 Dec 2011 00:00:00 +0530 Fri, 18 Mar 2016 17:03:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180221 The reassessment under section 147 was held valid by the CIT(A) and tribunal due to the Supreme Court's ruling that an intimation under section 143(1) does not constitute an assessment. Regarding the long-term capital gain addition, the tribunal directed the AO to allow increased rebates for various factors, ultimately instructing a recomputation of the capital gain. The appeal was partially allowed, with instructions for the AO to recalculate the capital gain after applying the revised rebates. Case-Laws Income Tax Thu, 29 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180221