https://www.taxtmi.com/caselaws?id=470019 Failure to dispose of objections to a reopening notice under sections 147 and 148 through a separate speaking order before reassessment is treated as mandatory non-compliance, rendering the reassessment unsustainable rather than a merely procedural defect. No further opportunity or remand is warranted where the objections remain wholly undecided. For capital gains, section 50C requires adoption of stamp-duty value as sale consideration, but does not prevent deduction of expenditure directly connected with effecting the transfer. Conversion and related charges borne by the purchaser and adjusted against the seller's sale proceeds may qualify as deductible transfer expenses where supported by an uncontroverted affidavit and contractual terms. en-us Wed, 12 Mar 2025 00:00:00 +0530 Mon, 13 Jul 2026 18:58:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470019 Failure to dispose of objections to a reopening notice under sections 147 and 148 through a separate speaking order before reassessment is treated as mandatory non-compliance, rendering the reassessment unsustainable rather than a merely procedural defect. No further opportunity or remand is warranted where the objections remain wholly undecided. For capital gains, section 50C requires adoption of stamp-duty value as sale consideration, but does not prevent deduction of expenditure directly connected with effecting the transfer. Conversion and related charges borne by the purchaser and adjusted against the seller's sale proceeds may qualify as deductible transfer expenses where supported by an uncontroverted affidavit and contractual terms. Case-Laws Income Tax Wed, 12 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470019