https://www.taxtmi.com/caselaws?id=343850 The Tribunal upheld the validity of reopening the assessment under Section 148 of the Income Tax Act, 1961, due to the assessee's failure to file a return voluntarily. It also affirmed the computation of long-term capital gains based on the valuation by the DVO and the recomputation of the cost of acquisition by the Commissioner of Income Tax (Appeals). Consequently, the appeal of the assessee was dismissed by the Tribunal in Chennai on March 31, 2017. en-us Fri, 31 Mar 2017 00:00:00 +0530 Fri, 02 Jun 2017 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343850 The Tribunal upheld the validity of reopening the assessment under Section 148 of the Income Tax Act, 1961, due to the assessee's failure to file a return voluntarily. It also affirmed the computation of long-term capital gains based on the valuation by the DVO and the recomputation of the cost of acquisition by the Commissioner of Income Tax (Appeals). Consequently, the appeal of the assessee was dismissed by the Tribunal in Chennai on March 31, 2017. Case-Laws Income Tax Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343850