https://www.taxtmi.com/caselaws?id=348951 The Tribunal upheld the validity of the assessment reopening under sections 143(3) and 147, rejected the application of section 50C for determining sale consideration based on Stamp Duty Act, and allowed exemption under section 54F for multiple residential units received. The Tribunal directed the consideration of construction cost as sale consideration, not the SRO value, and deemed multiple units as "a residential house" for exemption purposes. The appeals were partly allowed. en-us Fri, 29 Sep 2017 00:00:00 +0530 Wed, 29 Nov 2017 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348951 The Tribunal upheld the validity of the assessment reopening under sections 143(3) and 147, rejected the application of section 50C for determining sale consideration based on Stamp Duty Act, and allowed exemption under section 54F for multiple residential units received. The Tribunal directed the consideration of construction cost as sale consideration, not the SRO value, and deemed multiple units as "a residential house" for exemption purposes. The appeals were partly allowed. Case-Laws Income Tax Fri, 29 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348951