https://www.taxtmi.com/caselaws?id=355872 The court held that the notice of reopening of assessment lacked validity as the Assessing Officer could not reexamine the same transaction already scrutinized during the original assessment. The court ruled that no capital gains tax was applicable on the transfer of shares as it fell under the gift category. Additionally, the court found no grounds for dividend distribution tax liability and dismissed the allegation of failure to disclose material facts, ultimately setting aside the notice of reopening and allowing the petition. en-us Wed, 14 Feb 2018 00:00:00 +0530 Tue, 20 Feb 2018 06:06:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355872 The court held that the notice of reopening of assessment lacked validity as the Assessing Officer could not reexamine the same transaction already scrutinized during the original assessment. The court ruled that no capital gains tax was applicable on the transfer of shares as it fell under the gift category. Additionally, the court found no grounds for dividend distribution tax liability and dismissed the allegation of failure to disclose material facts, ultimately setting aside the notice of reopening and allowing the petition. Case-Laws Income Tax Wed, 14 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355872