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2017 (1) TMI 1376 - GUJARAT HIGH COURTReopening of assessment - addition on LTCG - Held that:- Considering the material produced by the petitioner – assessee, the Assessing Officer framed the assessment under Section 143(1) read with Section 147 of the Act and it appears that addition of ₹ 1,66,997/- was made to the total income of the petitioner – assessee towards long term capital gain. Thereafter, again reassessment proceedings have been initiated on the very ground doubting the genuineness of the bills, vouchers etc. for cost of improvement and doubting the long term capital gain claimed by the petitioner – assessee. It does not appear that there is any further material collected by the Assessing Officer after the assessment under Section 143(3) read with Section 147 of the Act was framed, and therefore, the impugned reopening is nothing but change of opinion by the successor Assessing Officer - Decided in favour of assessee.
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