https://www.taxtmi.com/caselaws?id=426620 Reassessment initiated within four years was treated as valid where an audit objection supplied information and the Assessing Officer independently formed a belief of escapement of income; it was not regarded as a mere change of opinion. For section 54 relief, an unregistered agreement to sell coupled with possession, but not completed by a registered conveyance deed, was held insufficient to constitute a completed purchase of a residential house. The denial of deduction was therefore sustained, with relief confined to restricting the disallowance to the deduction amount claimed in the return. en-us Wed, 17 Aug 2022 00:00:00 +0530 Sat, 20 Aug 2022 10:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426620 Reassessment initiated within four years was treated as valid where an audit objection supplied information and the Assessing Officer independently formed a belief of escapement of income; it was not regarded as a mere change of opinion. For section 54 relief, an unregistered agreement to sell coupled with possession, but not completed by a registered conveyance deed, was held insufficient to constitute a completed purchase of a residential house. The denial of deduction was therefore sustained, with relief confined to restricting the disallowance to the deduction amount claimed in the return. Case-Laws Income Tax Wed, 17 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426620