https://www.taxtmi.com/caselaws?id=774118 Gujarat HC allowed the petition challenging reopening of assessment under Section 147. The AO disallowed capital gains deduction under Section 54 solely because investment was made by legal heirs after the original assessee's death, despite proper disclosure in return. The court held that the AO's hyper-technical approach without tangible information of escaped income provided no valid ground for reopening assessment. The notice under Section 148 and assessment order under Section 147 read with Section 144B were quashed. en-us Mon, 23 Jun 2025 00:00:00 +0530 Thu, 03 Jul 2025 08:34:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774118 Gujarat HC allowed the petition challenging reopening of assessment under Section 147. The AO disallowed capital gains deduction under Section 54 solely because investment was made by legal heirs after the original assessee's death, despite proper disclosure in return. The court held that the AO's hyper-technical approach without tangible information of escaped income provided no valid ground for reopening assessment. The notice under Section 148 and assessment order under Section 147 read with Section 144B were quashed. Case-Laws Income Tax Mon, 23 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774118