https://www.taxtmi.com/caselaws?id=762489 ITAT Delhi held that reopening of assessment was invalid where AO mechanically combined sale proceeds of Rs. 43 lakhs with TDS information totaling Rs. 1.33 crores without proper verification. The assessee sold property for Rs. 43 lakhs and invested in another property worth Rs. 90 lakhs, resulting in net addition of Rs. 47 lakhs. AO failed to differentiate between actual sale consideration and TDS deduction information, leading to erroneous belief that capital gains exceeding Rs. 50 lakhs escaped assessment. The mechanical reopening without proper examination violated new assessment reopening provisions. Assessee's appeal was allowed. en-us Fri, 29 Nov 2024 00:00:00 +0530 Mon, 02 Dec 2024 08:55:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762489 ITAT Delhi held that reopening of assessment was invalid where AO mechanically combined sale proceeds of Rs. 43 lakhs with TDS information totaling Rs. 1.33 crores without proper verification. The assessee sold property for Rs. 43 lakhs and invested in another property worth Rs. 90 lakhs, resulting in net addition of Rs. 47 lakhs. AO failed to differentiate between actual sale consideration and TDS deduction information, leading to erroneous belief that capital gains exceeding Rs. 50 lakhs escaped assessment. The mechanical reopening without proper examination violated new assessment reopening provisions. Assessee's appeal was allowed. Case-Laws Income Tax Fri, 29 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762489