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Income Tax - Highlights / Catch Notes

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Validity of assessment initiated u/s.147/148 - Upon careful ...

Income Tax

October 20, 2021

Validity of assessment initiated u/s.147/148 - Upon careful consideration we are of the opinion that we have already held that reopening in this case is not justified on several counts. Hence, this aspect of departmental claim of capital gain and the counter claim made by assessee that in fact assessee has suffered a loss are only of academic interest. - AT

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