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2013 (4) TMI 606 - AT - Income TaxNon-signing of the copy of assessment order - as per the assessee copy of the assessment order served upon him was not signed by AO hence, the entire assessment has to be treated as invalid - assessee is a non-resident and is a practicing Ophthalmologist - Held that:- A.R, after examination of the assessment record, has confirmed that the Assessing Officer has duly signed the original assessment order. Accordingly, in view of the decision of Kalyankumar Ray (1991 (8) TMI 291 - SUPREME COURT) and Sushil Chandra Ghose (1991 (8) TMI 291 - SUPREME COURT) the statutory requirement has been duly complied with by the assessing officer. Further, it is pertinent to note that the "Notice of demand" served upon the assessee bore the signature of the assessing officer. Hence, the absence of signature in the copy of the assessment order would not vitiate the assessment. Against assessee. Validity of reopening of assessment - Held that:- On a perusal of the assessment order, AO has pointed out that (a) the assessee has claimed indexation benefit while computing the short term capital gain, (b) the exemption claimed by the assessee under sec. 54 of the Act is not in order and (c) the land on which short term capital gain was claimed was only a vacant land and not an agricultural land. All these reasons cited by the Assessing Officer cumulatively show that the AO had reason to believe that there was escapement of income. Hence, AO was justified in initiating re-assessment proceedings and accordingly, the grounds raised by the assessee in this regard rejected. Against assessee. Whether the land sold by the assessee is an agricultural land or not? - Held that:- The issues relating to the nature of land and the claim of exemption u/s 54B have not been properly examined by the tax authorities as the AO as well as the CIT(A) has placed more reliance on the report of the Inspector of Income tax and the development work carried out by the purchaser of land. Thus all these issues require fresh examination at the end of the assessing officer. In favour of assessee for statistical purposes.
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