The Gujarat High Court has held that the Income Tax Department cannot retrospectively apply the expanded powers under Section 55A to reopen old property valuation disputes. The ruling offers clarity for taxpayers involved in legacy capital gains cases.
Income tax on property sale: Gujarat HC quashes reassessment notice over ₹92 lakh land sale; here's why
livemint.com - 2 Aug 2026 11:23
The Gujarat High Court has held that the Income Tax Department cannot retrospectively apply the expanded powers under Section 55A to reopen old property valuation disputes. The ruling offers clarity for taxpayers involved in legacy capital gains cases.
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