Allowing the petition the Court held that there was no new information available with the Assessing Officer to reassess the long-term capital gains claim. The Assessing Officer had considered the same documents during the earlier assessment proceedings and was satisfied with the claim of the long-term capital gains made under section 54 of the Income-tax Act, 1961. The assessee was entitled to claim exemption under section 54 of the Act on these admitted facts, as the conditions stipulated in section 54 were fulfilled. The order under section 148A(d) of the Act, and notice issued under section 148 of the Act by the Assessing Officer with respect to the assessment year 2015-16 was quashed. (AY. 2015-16)