https://www.taxtmi.com/caselaws?id=756482 Gujarat HC quashed reopening of assessment where AO assumed petitioner was property owner and reopened case based on difference between market value and registration value. Court held AO lacked jurisdiction as section 43CA was not applicable for the assessment year, petitioner was not the property owner making section 50C inapplicable, and there was no income escapement. Since petitioner disclosed all material facts, AO had no jurisdiction to reopen beyond four years under section 147 proviso. en-us Tue, 23 Jul 2024 00:00:00 +0530 Sat, 03 Aug 2024 08:10:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756482 Gujarat HC quashed reopening of assessment where AO assumed petitioner was property owner and reopened case based on difference between market value and registration value. Court held AO lacked jurisdiction as section 43CA was not applicable for the assessment year, petitioner was not the property owner making section 50C inapplicable, and there was no income escapement. Since petitioner disclosed all material facts, AO had no jurisdiction to reopen beyond four years under section 147 proviso. Case-Laws Income Tax Tue, 23 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756482