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2017 (1) TMI 851 - AT - Income TaxReopening of assessment - Computation of capital gain on Long Term Capital Gain arising on sale of two properties - assessee held undivided shares of 1.56% and 6.25% respectively along with other co-owners - valuation of the property by the Government approved Valuer - refernce to DVO challenged - AO issued a notice u/s 148 relying upon the report of the DVO in the case of another co-owner of the same properties - Held that:- We find that assessment in this case had been completed u/s 143(3) of the I.T. Act. The reopening has been solely done on the basis of DVO’s report in the case of a third party. No other material has come into the possession of the AO. In such circumstances, the case law of ACIT vs Dhariya Construction Company (2010 (2) TMI 612 - Supreme Court of India) is applicable. Hence in our considered opinion the order of the learned CIT(Appeals) in this regard is quite correct. Accordingly we uphold the view that the reopening in this case is invalid and deserves to be cancelled. We uphold the order of learned CIT(Appeals) in this regard. As regards the merits of the issue as we have already upheld the order of learned CIT(Appeals) quashing the assessment on jurisdiction itself. In such circumstances, in our considered opinion, adjudicating upon the merits of the case is only of academic interest. Hence we are not engaging into the same. - Decided in favour of assessee
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