https://www.taxtmi.com/caselaws?id=275731 The Tribunal upheld the decisions of the CIT(A) and AO in a case concerning the reopening of assessment under Sec. 147 of the Income Tax Act, 1961. The Tribunal affirmed the application of Sec. 50C for determining capital gains and dismissed the assessee's challenges regarding the validity of the notice under Sec. 148 and failure to disclose income from a sale transaction. Additionally, the Tribunal ruled that the assessment completion complied with statutory provisions despite the absence of a Sec. 143(2) notice, ultimately dismissing the appeal and ruling in favor of the revenue authorities. en-us Wed, 28 Feb 2018 00:00:00 +0530 Mon, 15 Oct 2018 07:35:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275731 The Tribunal upheld the decisions of the CIT(A) and AO in a case concerning the reopening of assessment under Sec. 147 of the Income Tax Act, 1961. The Tribunal affirmed the application of Sec. 50C for determining capital gains and dismissed the assessee's challenges regarding the validity of the notice under Sec. 148 and failure to disclose income from a sale transaction. Additionally, the Tribunal ruled that the assessment completion complied with statutory provisions despite the absence of a Sec. 143(2) notice, ultimately dismissing the appeal and ruling in favor of the revenue authorities. Case-Laws Income Tax Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275731