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2023 (2) TMI 1134 - HC - Income TaxReopening of assessment u/s 147 - reasons to believe - department received information that the value of land, which was subject matter of transaction of sale, was far more than what has been disclosed - HELD THAT:- It appears to be a case where the department has collected certain information regarding certain income having escaped assessment. Whether or not, the information is reliable, would be required to be examined at subsequent stages and at this stage, the writ court would not go into the disputed questions of facts pertaining to valuation of the land or the nature of the land. As decided by SC in Anshul Jain [2022 (10) TMI 3 - SC ORDER] What is challenged before the High Court was the re-opening notice under Section 148A(d) of the Income Tax Act, 1961. The notices have been issued, after considering the objections raised by the petitioner. If the petitioner has any grievance on merits thereafter, the same has to be agitated before the Assessing Officer in the re-assessment proceedings. Under the circumstances, the High Court has rightly dismissed the writ petition. In view of above settled legal position, in the factual premise of the case, which has led to passing of the impugned order under Section 148A(d), we are not inclined to interfere in the matter but leave the petitioner to work out his remedy in the proceedings subsequent to issuance of notice under Section 148 of the Income Tax Act. Petition dismissed.
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