https://www.taxtmi.com/caselaws?id=346183 The court upheld the validity of reopening the assessment under section 147 of the Income Tax Act after the original assessment was set aside due to non-service of notice under section 143(2). It determined that the income from the sale of land should be treated as business income rather than long-term capital gain. The principle of merger was found not to apply, and the reopening did not circumvent the statutory period for issuing a notice under section 143(2). The court dismissed the petition, affirming the actions of the Assessing Officer. en-us Tue, 25 Jul 2017 00:00:00 +0530 Mon, 15 Jan 2018 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346183 The court upheld the validity of reopening the assessment under section 147 of the Income Tax Act after the original assessment was set aside due to non-service of notice under section 143(2). It determined that the income from the sale of land should be treated as business income rather than long-term capital gain. The principle of merger was found not to apply, and the reopening did not circumvent the statutory period for issuing a notice under section 143(2). The court dismissed the petition, affirming the actions of the Assessing Officer. Case-Laws Income Tax Tue, 25 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346183