https://www.taxtmi.com/caselaws?id=311665 The Delhi HC set aside an order under Section 148A(d) and consequential notice for reopening assessment. The AO issued notice alleging petitioner sold immovable property without disclosing capital gains. However, petitioner had previously clarified through documents that it purchased, not sold, the property. The court found the AO failed to apply mind and ignored crucial evidence showing it was a purchase transaction. The order was not aligned with the Section 148A(b) notice and demonstrated lack of proper consideration of available information. en-us Thu, 25 May 2023 00:00:00 +0530 Thu, 24 Oct 2024 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311665 The Delhi HC set aside an order under Section 148A(d) and consequential notice for reopening assessment. The AO issued notice alleging petitioner sold immovable property without disclosing capital gains. However, petitioner had previously clarified through documents that it purchased, not sold, the property. The court found the AO failed to apply mind and ignored crucial evidence showing it was a purchase transaction. The order was not aligned with the Section 148A(b) notice and demonstrated lack of proper consideration of available information. Case-Laws Income Tax Thu, 25 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311665