https://www.taxtmi.com/caselaws?id=757665 Madras HC held that reassessment proceedings under Section 147 cannot be sustained when the original ground for reopening assessment is no longer available. The assessing officer reopened assessment for AY 2013-14 citing non-disclosure of capital gains on land sale, but subsequently made no additions finding no capital gain existed. Following precedent in TAFE case, the court ruled that reassessment cannot continue on original notice under Section 148 when the initiating ground becomes unavailable. The assessment order was quashed and matter decided in favor of assessee. en-us Tue, 20 Feb 2024 00:00:00 +0530 Thu, 29 Aug 2024 10:58:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757665 Madras HC held that reassessment proceedings under Section 147 cannot be sustained when the original ground for reopening assessment is no longer available. The assessing officer reopened assessment for AY 2013-14 citing non-disclosure of capital gains on land sale, but subsequently made no additions finding no capital gain existed. Following precedent in TAFE case, the court ruled that reassessment cannot continue on original notice under Section 148 when the initiating ground becomes unavailable. The assessment order was quashed and matter decided in favor of assessee. Case-Laws Income Tax Tue, 20 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757665