https://www.taxtmi.com/caselaws?id=781102 ITAT DELHI - AT upheld the validity of the reasons recorded and PCIT approval for reopening and found the notice u/s 143(2) valid. The Tribunal rejected procedural challenges to the reassessment, holding no breach of proviso to s.147 and no defect from lack of DIN. Substantively, ITAT allowed the assessee's claim: one-third share of indexed cost of acquisition and improvement for LTCG was accepted without additional proof, and exemption u/s 54 was granted due to developer delay in allotment/possession. Grounds challenging these reliefs were dismissed; grounds for s.54 and cost allowance were allowed. en-us Fri, 07 Nov 2025 00:00:00 +0530 Tue, 11 Nov 2025 08:20:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781102 ITAT DELHI - AT upheld the validity of the reasons recorded and PCIT approval for reopening and found the notice u/s 143(2) valid. The Tribunal rejected procedural challenges to the reassessment, holding no breach of proviso to s.147 and no defect from lack of DIN. Substantively, ITAT allowed the assessee's claim: one-third share of indexed cost of acquisition and improvement for LTCG was accepted without additional proof, and exemption u/s 54 was granted due to developer delay in allotment/possession. Grounds challenging these reliefs were dismissed; grounds for s.54 and cost allowance were allowed. Case-Laws Income Tax Fri, 07 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781102