https://www.taxtmi.com/highlights?id=72889 Reopening of assessment - validity of notice u/s 148A - computation of capital gain - the petitioner is categorical that he has not received any income in the AY 2016-17 but has claimed a notional expenditure in the next Assessment Years while declaring capital gain, the merit of such claim should be considered before concluding that there is escapement of tax. - Notice u/s 148A quashed - HC en-us Fri, 03 Nov 2023 14:46:14 +0530 Fri, 03 Nov 2023 14:46:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=72889 Reopening of assessment - validity of notice u/s 148A - computation of capital gain - the petitioner is categorical that he has not received any income in the AY 2016-17 but has claimed a notional expenditure in the next Assessment Years while declaring capital gain, the merit of such claim should be considered before concluding that there is escapement of tax. - Notice u/s 148A quashed - HC Highlights Income Tax Fri, 03 Nov 2023 14:46:14 +0530 https://www.taxtmi.com/highlights?id=72889