https://www.taxtmi.com/caselaws?id=796503 Reassessment based on the incorrect premise that no return had been filed was invalid where the return and property transaction had already been disclosed and examined on AIR information. The notes state that no fresh material supported reopening the same transaction, and that omission of the earlier enquiry rendered the recorded reasons incomplete. Section 50C substitutes stamp-duty value for declared consideration but does not itself establish income escaping assessment. Accordingly, the section 148 notice and reassessment were treated as void ab initio. en-us Tue, 23 Jun 2026 00:00:00 +0530 Thu, 06 Aug 2026 09:11:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796503 Reassessment based on the incorrect premise that no return had been filed was invalid where the return and property transaction had already been disclosed and examined on AIR information. The notes state that no fresh material supported reopening the same transaction, and that omission of the earlier enquiry rendered the recorded reasons incomplete. Section 50C substitutes stamp-duty value for declared consideration but does not itself establish income escaping assessment. Accordingly, the section 148 notice and reassessment were treated as void ab initio. Case-Laws Income Tax Tue, 23 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796503