https://www.taxtmi.com/caselaws?id=775774 The ITAT Bangalore upheld the reopening of assessment under section 147, finding no jurisdictional error as the assessee filed a belated return only after notice under section 148. The claim for cost of improvement was disallowed due to lack of documentary evidence, but the tribunal directed the AO to allow a reasonable estimate of ₹800 per sq.ft for 918 sq.ft based on the sale deed, as the CIT(A) improperly disregarded the registered valuer's report without consulting the Departmental Valuation Officer. Regarding exemption under section 54, the AO was directed to verify if two adjacent houses were converted into one unit with a single kitchen and family; if so, the exemption would apply. The matter was remanded to the AO for fresh consideration on these issues. en-us Mon, 07 Jul 2025 00:00:00 +0530 Thu, 31 Jul 2025 08:17:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775774 The ITAT Bangalore upheld the reopening of assessment under section 147, finding no jurisdictional error as the assessee filed a belated return only after notice under section 148. The claim for cost of improvement was disallowed due to lack of documentary evidence, but the tribunal directed the AO to allow a reasonable estimate of ₹800 per sq.ft for 918 sq.ft based on the sale deed, as the CIT(A) improperly disregarded the registered valuer's report without consulting the Departmental Valuation Officer. Regarding exemption under section 54, the AO was directed to verify if two adjacent houses were converted into one unit with a single kitchen and family; if so, the exemption would apply. The matter was remanded to the AO for fresh consideration on these issues. Case-Laws Income Tax Mon, 07 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775774