https://www.taxtmi.com/caselaws?id=382108 The High Court quashed the notice for reassessment as the Assessing Officer lacked valid reasons to believe that income had escaped assessment. The petitioner's contentions on the exemption of long-term capital gains under Section 10(38) and the inclusion of such gains in the book profit under Section 115JB were accepted. The objections raised were deemed invalid, and the reassessment was unjustified. en-us Tue, 25 Jun 2019 00:00:00 +0530 Wed, 26 Jun 2019 06:41:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382108 The High Court quashed the notice for reassessment as the Assessing Officer lacked valid reasons to believe that income had escaped assessment. The petitioner's contentions on the exemption of long-term capital gains under Section 10(38) and the inclusion of such gains in the book profit under Section 115JB were accepted. The objections raised were deemed invalid, and the reassessment was unjustified. Case-Laws Income Tax Tue, 25 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382108