https://www.taxtmi.com/caselaws?id=451104 HC held there was prima facie basis to reopen assessment under s.148 based on information about share transfers to a foreign entity suggesting undisclosed capital gains, but found petitioner's newly produced documents potentially material showing the transfer may have occurred in an earlier year. The HC set aside the draft assessment order issued under s.144C, remanded the matter to the AO for fresh consideration, and directed that the petitioner be permitted to file fresh objections and submit relevant documents within two weeks of receiving the order. en-us Tue, 20 Feb 2024 00:00:00 +0530 Mon, 15 Sep 2025 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=451104 HC held there was prima facie basis to reopen assessment under s.148 based on information about share transfers to a foreign entity suggesting undisclosed capital gains, but found petitioner's newly produced documents potentially material showing the transfer may have occurred in an earlier year. The HC set aside the draft assessment order issued under s.144C, remanded the matter to the AO for fresh consideration, and directed that the petitioner be permitted to file fresh objections and submit relevant documents within two weeks of receiving the order. Case-Laws Income Tax Tue, 20 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=451104