https://www.taxtmi.com/caselaws?id=795809 Reassessment limitation must exclude the response period under Section 148A(b) and apply the consequential minimum extension under Section 149(1); the adjusted period also determines the competent approving authority under Section 151. On that basis, the notice was within time and PCIT approval was valid. For alleged bogus long-term capital gains, broker documents, contract notes, bank records and sale-proceeds evidence established the transactions. Investigation information alone, without independent inquiry or rebuttal evidence, could not displace proof of identity, creditworthiness and genuineness. The Section 68 addition was therefore deleted and the long-term capital-gain exemption claim restored. en-us Wed, 24 Jun 2026 00:00:00 +0530 Tue, 28 Jul 2026 08:30:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795809 Reassessment limitation must exclude the response period under Section 148A(b) and apply the consequential minimum extension under Section 149(1); the adjusted period also determines the competent approving authority under Section 151. On that basis, the notice was within time and PCIT approval was valid. For alleged bogus long-term capital gains, broker documents, contract notes, bank records and sale-proceeds evidence established the transactions. Investigation information alone, without independent inquiry or rebuttal evidence, could not displace proof of identity, creditworthiness and genuineness. The Section 68 addition was therefore deleted and the long-term capital-gain exemption claim restored. Case-Laws Income Tax Wed, 24 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795809