https://www.taxtmi.com/caselaws?id=412501 The Tribunal set aside the assessment reopening under section 147, directing the A.O. to reevaluate based on evidence provided, while confirming the addition of taxable long-term capital gain. The assessment of HUF property in individual hands was contested without detailed discussion. Concerns over the indexed cost of land acquisition were raised but not extensively addressed. An additional ground on the taxability of capital gain in a different assessment year was admitted for further review by the A.O. based on new evidence and legal arguments presented during the appeal. en-us Thu, 26 Aug 2021 00:00:00 +0530 Mon, 20 Sep 2021 09:20:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412501 The Tribunal set aside the assessment reopening under section 147, directing the A.O. to reevaluate based on evidence provided, while confirming the addition of taxable long-term capital gain. The assessment of HUF property in individual hands was contested without detailed discussion. Concerns over the indexed cost of land acquisition were raised but not extensively addressed. An additional ground on the taxability of capital gain in a different assessment year was admitted for further review by the A.O. based on new evidence and legal arguments presented during the appeal. Case-Laws Income Tax Thu, 26 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412501