https://www.taxtmi.com/caselaws?id=353355 The court dismissed the writ petition challenging the notice issued under Section 148 of the Income Tax Act, finding the reasons for reopening the assessment clear and specific. The petitioner's option to use the market value for computing capital gains was upheld, but the rejection of the valuation report was deemed justified. The court held that the objections lacked substance, ultimately dismissing the petition and discharging the rule with no order as to costs. en-us Fri, 22 Dec 2017 00:00:00 +0530 Tue, 02 Jan 2018 09:19:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353355 The court dismissed the writ petition challenging the notice issued under Section 148 of the Income Tax Act, finding the reasons for reopening the assessment clear and specific. The petitioner's option to use the market value for computing capital gains was upheld, but the rejection of the valuation report was deemed justified. The court held that the objections lacked substance, ultimately dismissing the petition and discharging the rule with no order as to costs. Case-Laws Income Tax Fri, 22 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353355