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2021 (7) TMI 366 - AT - Income TaxEx-parte appeal dismissed by CIT-A - AO completed the assessment u/s. 144 r.w.s. 147 - AO computed the Long Term Capital Gains by reducing the index cost of acquisition and brought the LTCG - claim of exemption u/s. 54 of the Act was denied for want of proof - HELD THAT:- Having regard to the fact that both the assessment as well as first appeal are decided ex parte, we deem it proper to remand the assessment to the file of the Assessing Officer for de novo consideration in accordance with law. However, the validity of the notice u/s. 148 which has already been decided by the Assessing Officer shall not be reconsidered. Assessee's appeal is partly allowed.
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