https://www.taxtmi.com/caselaws?id=434730 The Tribunal partly allowed the appeal, quashing the reopening of assessment and deleting the addition on account of Long Term Capital Gain by Rs.86,451 out of the total addition of Rs.3,43,830. The Tribunal found that the notice for reopening assessment was valid, based on independent satisfaction. However, it accepted the Assessee's arguments regarding the Long Term Capital Gain, considering the property's litigated nature and the value declared in the return of income. en-us Wed, 01 Mar 2023 00:00:00 +0530 Fri, 03 Mar 2023 08:36:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434730 The Tribunal partly allowed the appeal, quashing the reopening of assessment and deleting the addition on account of Long Term Capital Gain by Rs.86,451 out of the total addition of Rs.3,43,830. The Tribunal found that the notice for reopening assessment was valid, based on independent satisfaction. However, it accepted the Assessee's arguments regarding the Long Term Capital Gain, considering the property's litigated nature and the value declared in the return of income. Case-Laws Income Tax Wed, 01 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434730