https://www.taxtmi.com/caselaws?id=432195 Reassessment under section 147 was treated as valid where the assessee did not respond to statutory notices and had not filed a return despite a transaction giving rise to taxable capital gains. In a development-agreement transfer, possession under the original agreement fixed taxability in assessment year 2016-17, and a later supplementary deed was treated as an extension rather than a fresh transfer. For capital gains computation, the deemed consideration was linked to the super built-up area and parking area receivable, while NALA charges and property tax were allowed and 46% of deviation charges was attributed to the assessee. Section 54F relief was left to factual verification of residential-house ownership. en-us Thu, 15 Dec 2022 00:00:00 +0530 Fri, 30 Dec 2022 09:53:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432195 Reassessment under section 147 was treated as valid where the assessee did not respond to statutory notices and had not filed a return despite a transaction giving rise to taxable capital gains. In a development-agreement transfer, possession under the original agreement fixed taxability in assessment year 2016-17, and a later supplementary deed was treated as an extension rather than a fresh transfer. For capital gains computation, the deemed consideration was linked to the super built-up area and parking area receivable, while NALA charges and property tax were allowed and 46% of deviation charges was attributed to the assessee. Section 54F relief was left to factual verification of residential-house ownership. Case-Laws Income Tax Thu, 15 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432195