https://www.taxtmi.com/highlights?id=61738 Validity of reopening of assessment u/s 147 - assumption of jurisdiction by the ld. AO u/s.147 - He had categorically stated in the reasons that from the records these transactions were found. That itself goes to prove that the ld. AO had gone into the assessment records again and had sought to entertain the change of opinion on the same set of facts available in the records.Hence, the reopening of assessment in respect of capital gain on sale of TCS Ltd. shares and re-investment in preference shares of Tata Sons Ltd., is declared as bad in law. - AT en-us Tue, 01 Feb 2022 08:31:14 +0530 Tue, 01 Feb 2022 08:31:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=61738 Validity of reopening of assessment u/s 147 - assumption of jurisdiction by the ld. AO u/s.147 - He had categorically stated in the reasons that from the records these transactions were found. That itself goes to prove that the ld. AO had gone into the assessment records again and had sought to entertain the change of opinion on the same set of facts available in the records.Hence, the reopening of assessment in respect of capital gain on sale of TCS Ltd. shares and re-investment in preference shares of Tata Sons Ltd., is declared as bad in law. - AT Highlights Income Tax Tue, 01 Feb 2022 08:31:14 +0530 https://www.taxtmi.com/highlights?id=61738