https://www.taxtmi.com/caselaws?id=349227 The court upheld the validity of the directions issued by the Commissioner (Appeals) for reopening the assessment for the assessment year 2005-2006. The reassessment was initially declared invalid due to discrepancies in the computation of the cost of acquisition of land for long term capital gain. However, the court found that the new materials presented during the appellate proceedings justified the need for reopening the assessment, even though the original assessment had already been examined. The petition challenging the directions for reopening was dismissed, emphasizing the importance of considering new materials in reassessment decisions. en-us Tue, 03 Oct 2017 00:00:00 +0530 Mon, 09 Oct 2017 11:27:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349227 The court upheld the validity of the directions issued by the Commissioner (Appeals) for reopening the assessment for the assessment year 2005-2006. The reassessment was initially declared invalid due to discrepancies in the computation of the cost of acquisition of land for long term capital gain. However, the court found that the new materials presented during the appellate proceedings justified the need for reopening the assessment, even though the original assessment had already been examined. The petition challenging the directions for reopening was dismissed, emphasizing the importance of considering new materials in reassessment decisions. Case-Laws Income Tax Tue, 03 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349227