TMI BlogValidity of reopening of assessment - The case involved a dispute over the deletion of addition on...Validity of reopening of assessment - The case involved a dispute over the deletion of addition on account of undisclosed capital gain and the validity of the assessment order. The Revenue's arguments regarding undisclosed capital gain were dismissed by the Tribunal, highlighting the lack of responsibility on the assessee's part and the significance of matching amounts in documents. Furthermore, the Tribunal found the assessment order invalid due to improper notice under section 148 of the Act, emphasizing the jurisdictional requirement for proper notice and quashing the reassessment proceedings as a result. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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