https://www.taxtmi.com/caselaws?id=425487 A reassessment challenge under section 148 based on alleged non-service of notice failed because the record showed multiple addresses for the assessee, attendance through representatives, and action on section 142(1) notice, so the jurisdictional objection was rejected. On the merits, the capital gains and taxability issue was restored for fresh adjudication because the assessee produced additional evidence and an affidavit suggesting the transaction had not fully materialised and no consideration was received. The first appellate authority was directed to reconsider the factual and taxability aspects after giving the assessee an opportunity to substantiate the claim. en-us Mon, 30 May 2022 00:00:00 +0530 Mon, 25 Jul 2022 09:18:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425487 A reassessment challenge under section 148 based on alleged non-service of notice failed because the record showed multiple addresses for the assessee, attendance through representatives, and action on section 142(1) notice, so the jurisdictional objection was rejected. On the merits, the capital gains and taxability issue was restored for fresh adjudication because the assessee produced additional evidence and an affidavit suggesting the transaction had not fully materialised and no consideration was received. The first appellate authority was directed to reconsider the factual and taxability aspects after giving the assessee an opportunity to substantiate the claim. Case-Laws Income Tax Mon, 30 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425487