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2017 (1) TMI 1378 - GUJARAT HIGH COURTValidity of reopening of assessment - on money paid by assessee in respect of land - Held that:- From the reasons recorded, it appears that all the allegations are with respect to Shri Kamal M. Gohil and ISCON Group and in most of the transactions, which are referred in the reasons recorded, the petitioner – assessee is not at all connected. So far as the petitioner – assessee is concerned, the petitioner – assessee is connected with the transactions with respect to the lands situated at Sanathal, Taluka Sanand in which as observed hereinabove the petitioner – assessee is the purchaser, who has paid the entire sale consideration by cheques and as observed hereinabove, there is no allegation whatsoever that any on money is paid by the petitioner – assessee. Under the circumstances on the ground that there is no tangible material available with the Assessing Officer to form an opinion that the income chargeable to tax has escaped the assessment in the case of the petitioner – assessee, the Assessing Officer is not justified in reopening the assessment on such belief, which has no base. Under the circumstances, on the aforesaid ground alone, the impugned reassessment proceedings deserves to be quashed and set aside. - Decided in favour of assessee
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