Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2020 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (1) TMI 873 - HC - Income TaxReopening of assessment u/s 147 - capital gain - main contentions is that the property in question though sold vide Deed of Transfer dated 30 March 2012, the cheque was encashed on 16 April 2012 , the possession was handed over on 20 April 2012 and the registration was completed on 20 April 2012 with documents supporting this contention - HELD THAT:- The order rejecting the objections of the Petitioner nowhere refers to any of these documents. The Assessing Officer has merely reiterated the reasons already supplied. The Petitioner has relied upon the decision in the case of Commissioner of Income-tax-2 v. Millennium Estates (P.) Ltd. [2018 (2) TMI 308 - BOMBAY HIGH COURT] to contend that for the purpose of capital gains, handing over of possession is of importance. Contention of the Petitioner, that there is no reason to believe that the income had escaped assessment, prima facie, holds merit.
|