https://www.taxtmi.com/caselaws?id=408525 The Tribunal upheld the reopening of the assessment without the need for fresh tangible material in cases processed under Section 143(1). The fair market value matter was remanded to the AO for referral to the DVO. Deductions under Section 54 for multiple residential properties were allowed, interpreting "a residential house" to include multiple properties. The Tribunal permitted the deduction under Section 54EC for investments exceeding Rs. 50 lakhs, following a precedent allowing such investments. en-us Fri, 11 Jun 2021 00:00:00 +0530 Sat, 12 Jun 2021 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408525 The Tribunal upheld the reopening of the assessment without the need for fresh tangible material in cases processed under Section 143(1). The fair market value matter was remanded to the AO for referral to the DVO. Deductions under Section 54 for multiple residential properties were allowed, interpreting "a residential house" to include multiple properties. The Tribunal permitted the deduction under Section 54EC for investments exceeding Rs. 50 lakhs, following a precedent allowing such investments. Case-Laws Income Tax Fri, 11 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408525