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2012 (10) TMI 848 - AT - Income TaxReopening of assessment - Long Term Capital Gain had escaped assessment - co-owner holding 50% share in the property - Held that:- Considering the agreement of Partition & documentary evidences AO has erroneously drawn his conclusions that the assessee was having 50% share in the said property, instead of the fact that the assessee has only 50 square yards out of 1050 square yards of the property. AO has also not brought any material on record to rebut the evidences filed by the assessee. The legal heirs of late Shri Arun Kumar Lal had shown the entire sale consideration in its return of income - in favour of assessee.
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