No Income Escapment when Assessee paid STCG and LTCG: Gujarat HC quashes Reassessment Order [Read Order]

Income Escapment - Assessee paid STCG and LTCG - STCG and LTCG - LTCG - Gujarat High Court - Gujarat High Court quashes Reassessment Order - Reassessment Order - taxscan

The High Court of Gujarat quashed the reassessment order as there was no income escapement when the assessee paid Short Term Capital Gain (STCG) and Long Term Capital Gain (LTCG). During the year under consideration, Apex Remedies Pvt. Ltd, the petitioner sold immovable property comprising an industrial plot of land along with an industrial shed…

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