Validity of Reopening of assessment - deduction claimed u/s 54 - ...

Income Tax

August 25, 2023

Validity of Reopening of assessment - deduction claimed u/s 54 - In the ITR, the assessee clearly discloses the said sale consideration coupled with the deductions claimed as described above. Apparently, prior to issuance of notice u/s 148A(b) of the Act, the Assessing Officer failed to notice the said disclosures. - It is a clear case of non-application of mind by the AO - HC

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Validity of Reopening of assessment - deduction claimed u/s 54 - ...

Income Tax

August 25, 2023

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