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2017 (4) TMI 1349 - ITAT LUCKNOWReopening of assessment - validity of reasons to believe - capital chargeable to tax on sale of property not disclosed - Held that:- Assessing Officer has not brought on record which of the property has been sold by the assessee, where the property was situated and whether the assessee was the owner or co-owner of the said property. Even date of the sale and the consideration received by the assessee has not been mentioned. The Assessing Officer must have received copy of the sale deed or the information from the office of the Sub Registrar and on that basis he must have recorded the reasons. The reasons recorded should be selfexplanatory and should not keep the assessee for guessing of the reasons. From these reasons, it is apparent that there is no application of mind on the part of AO while recording the reasons. Quash the reassessment proceedings - Decided in favour of assessee.
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