https://www.taxtmi.com/caselaws?id=768497 Reassessment jurisdiction under Section 153A cannot be invoked to reopen an issue already concluded by a prior reassessment under Section 147: the court holds that where the same issue was examined and reassessed on 30.05.2012, the Department is estopped by the second proviso to Section 153A from framing a fresh regular assessment absent new incriminating material, and no incriminating material arose from the search. The court therefore rejects the re-challenge to allowance of the capital gains exemption claim under the investment provision and decides in favour of the assessee, emphasising finality of tax proceedings. en-us Thu, 05 Dec 2024 00:00:00 +0530 Mon, 09 Feb 2026 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768497 Reassessment jurisdiction under Section 153A cannot be invoked to reopen an issue already concluded by a prior reassessment under Section 147: the court holds that where the same issue was examined and reassessed on 30.05.2012, the Department is estopped by the second proviso to Section 153A from framing a fresh regular assessment absent new incriminating material, and no incriminating material arose from the search. The court therefore rejects the re-challenge to allowance of the capital gains exemption claim under the investment provision and decides in favour of the assessee, emphasising finality of tax proceedings. Case-Laws Income Tax Thu, 05 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768497