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2023 (5) TMI 1284 - DELHI HIGH COURTValidity of reopening of assessment - order issued u/s 148A(d) - immovable property sold and that capital gains earned had not been disclosed - petitioner pointed out, that it had not sold any property, and instead bought the property - HELD THAT:- Assessee is right in contending that there was no application of mind by the AO while passing the impugned order u/s 148A(d) and is also right in contending that the aforementioned order is not aligned with the notice dated 19.05.2022 issued u/s 148A(b) of the Act. We are also surprised, that the notice u/s 148A(b) was issued on 19.05.2022 wherein, as observed above, the allegation made is that the petitioner had sold the subject property, despite information in that regard being supplied by the petitioner, as far back as on 22.04.2021, against a notice issued u/s 133(6) of the Act. Petitioner had clearly indicated, that it had purchased the property. The assertation was backed by relevant documents, which for some reason, the AO chose to ignore. We are of the view, that if at all, the AO deems it fit to carry out a fresh exercise, it would be from the stage prior to the issuance of notice u/s 148A(b) of the Act. Clearly, the AO has missed the most crucial part of the transaction, that it was a purchase and not a sale transaction. Accordingly, the impugned order dated 28.07.2022 passed under Section 148A(d) of the Act, and the consequential notice of even date i.e., 28.07.2022 are set aside.
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