ITAT Delhi delivers a two-fold relief – quashes reassessment as void for lack of jurisdiction & grants full Section 54F exemption even where houses are constructed in son’s name

Inamul Haq Vs ITO (ITAT Delhi)

ITAT Delhi delivers a two-fold relief – quashes reassessment as void for lack of jurisdiction & grants full Section 54F exemption even where houses are constructed in son’s name

Assessee was a retired government pensioner who filed his return declaring a small income. Subsequently, Dept received information that he had sold an immovable property for ₹41.57 lakh (with stamp duty valuation of ₹51.73 lakh u/s 50C). Since no capital gain was offered in the original return, the case was reopened u/s 148. Importantly, the notice u/s 148 w

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