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2016 (7) TMI 518 - HC - Income TaxReopening of assessment - exemption under section 54F not allowable - petitioner had pointed out that he had purchased two plots of land under a deed dated 20.6.2008 - Held that:- Quite apart from the assessee's placing full material at the disposal of the Assessing Officer, the claim was also examined by the Assessing Officer during assessment proceedings. Having accepted the claim in law, but having made partial disallowance considering the facts, it was thereafter not open for the Assessing Officer to issue notice for reopening, that too, without any additional material which would suggest that the assessee had made a false declaration or provided inaccurate particulars. - Decided in favour of assessee.
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