Held that no enquiry was made by Assessing Officer from perspective of applicability of section 50C or otherwise on issue of computation of capital gains in original proceedings. Reopening of assessment was held to be justified. (AY. 2010-11)
Rakesh Ambalal Patel v. ITO (2021) 188 ITD 593 / 212 TTJ 769 / 203 DTR 441 (SMC) (Ahd.)(Trib.)
S. 147 : Reassessment-Deemed sale consideration-Not considered while assessing the original assessment-Reassessment is held to be justified. [S. 45, 50C]