This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Reassessment Invalid for Change of Opinion on 54F Claim – ITAT Quashes ₹1.63 Cr LTCG Addition
Case Law Details
- Case Name
- Kamaluddin Hamed Salmani Vs DCIT (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Hyderabad
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Kamaluddin Hamed Salmani Vs DCIT (ITAT Hyderabad)
Reassessment Void When Issue Already Examined in Original Scrutiny- No Fresh Material- Change of Opinion on 54F Claim Not Permitted- ITAT Quashes ₹1.63 Cr LTCG Addition Under 54F Reopening
Assessee’s reassessment u/s 147 was initiated on the ground that capital gains exemption u/s 54F was wrongly claimed on sale of land, as the new property was allegedly received in loan settlement & not purchased from sale proceeds. The AO treated ₹1.63 crore as taxable LTCG, & the CIT(A) confirmed it.
Assessee contended that the issue of 54F exe...
Author Info
