https://www.taxtmi.com/caselaws?id=435599 The Tribunal granted the assessee additional opportunities to contest the case on merit, emphasizing the principles of natural justice. The matter was remanded back to the CIT(A) for a fresh decision regarding the re-opening of assessment u/s 147. The Tribunal also directed a reconsideration of reassessment proceedings u/s 148 due to valuation issues and declined exemption under sections 54/54F. The CIT(A) was instructed to provide reasonable opportunities to the assessee for valuation and LTCG computation, and both parties were advised to enhance compliance vigilance for penalty proceedings u/s 271(1)(c). The CIT(A) was criticized for lack of adequate hearing opportunities, prompting the Tribunal to allow the appeals for statistical purposes. en-us Tue, 21 Mar 2023 00:00:00 +0530 Thu, 23 Mar 2023 08:28:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435599 The Tribunal granted the assessee additional opportunities to contest the case on merit, emphasizing the principles of natural justice. The matter was remanded back to the CIT(A) for a fresh decision regarding the re-opening of assessment u/s 147. The Tribunal also directed a reconsideration of reassessment proceedings u/s 148 due to valuation issues and declined exemption under sections 54/54F. The CIT(A) was instructed to provide reasonable opportunities to the assessee for valuation and LTCG computation, and both parties were advised to enhance compliance vigilance for penalty proceedings u/s 271(1)(c). The CIT(A) was criticized for lack of adequate hearing opportunities, prompting the Tribunal to allow the appeals for statistical purposes. Case-Laws Income Tax Tue, 21 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435599