Jagdishkumar Vitthalbhai Patel v. ITO (2023) 471 ITR 216 /151 taxmann.com 121 (Guj) (HC)

S.147: Reassessment-After the expiry of four years-Capital gains-Co-owner-No failure to disclose material facts-Reassessment notice and order disposing the objection is quashed. [S. 45(3) 50C, 148, Art. 226]

Assessee an individual derived income from different sources including share in partnership firm  Assessment  was completed u/s 143(3) of the Act.. The assessment was reopened.  On writ, the Court held that  notice  proposing to reopen completed assessment is  quashed and set aside. (AY. 2012-13)

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