https://www.taxtmi.com/caselaws?id=785180 Reassessment under sections 147/148 requires fresh material beyond the original assessment record and identification of the assessee's failure to disclose material facts. Audit objections alone do not validate reopening where no external information or specific nondisclosure is identified. The reassessment was therefore quashed. Although section 50C permits adoption of stamp duty valuation as deemed consideration and allows the assessee to seek a valuation reference where that value is disputed, no addition under section 50C survived because the reopening itself was invalid. en-us Wed, 26 Nov 2025 00:00:00 +0530 Mon, 19 Jan 2026 07:37:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785180 Reassessment under sections 147/148 requires fresh material beyond the original assessment record and identification of the assessee's failure to disclose material facts. Audit objections alone do not validate reopening where no external information or specific nondisclosure is identified. The reassessment was therefore quashed. Although section 50C permits adoption of stamp duty valuation as deemed consideration and allows the assessee to seek a valuation reference where that value is disputed, no addition under section 50C survived because the reopening itself was invalid. Case-Laws Income Tax Wed, 26 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785180