https://www.taxtmi.com/caselaws?id=438593 The Tribunal upheld the legality of the notice u/s 148 issued by the Assessing Officer, leading to the assessment being conducted based on the notice served upon the appellant. The Tribunal also found the reopening of the assessment valid, based on information regarding the sale of an immovable property by the appellant. While the Assessing Officer initially disallowed the exemption claimed under Section 54, the Tribunal directed the Assessing Officer to allow the exemption, considering the appellant's compliance with the provisions of Section 54F regarding the investment of capital gains in a new residential property. en-us Fri, 28 Apr 2023 00:00:00 +0530 Mon, 05 Jun 2023 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438593 The Tribunal upheld the legality of the notice u/s 148 issued by the Assessing Officer, leading to the assessment being conducted based on the notice served upon the appellant. The Tribunal also found the reopening of the assessment valid, based on information regarding the sale of an immovable property by the appellant. While the Assessing Officer initially disallowed the exemption claimed under Section 54, the Tribunal directed the Assessing Officer to allow the exemption, considering the appellant's compliance with the provisions of Section 54F regarding the investment of capital gains in a new residential property. Case-Laws Income Tax Fri, 28 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438593