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2018 (8) TMI 1424 - GUJARAT HIGH COURTReopening of an assessment beyond 4 years - deduction u/s 80IB(10) - development of housing project. - One of the conditions thereof being that no person shall be allotted more than one residential unit. According to the Assessing Officer, the assessee had breached this condition - disclosure of truly and fully all material facts - Held that:- the Assessing Officer had gathered relevant facts for issuing notice of reopening the assessment from the assessment proceedings, principally, the return and the accompanying documents. There was thus no failure on part of the assessee to disclose necessary facts. On this ground itself, notice is required to be set aside. Further, In the context of the allotment of two units to the same person, the assessee had pointed out in his objections that the purchaser Shri Piyushbhai Patel was never allotted two units. He had vacated one of the two units which he had booked and had paid the sale consideration for one of them and accordingly, such unit was sold to him. The Assessing Officer merely brushed aside such objection stating that same is subject to verification which can be done only during the course of assessment. Notice for reassessment beyond a period of four years therefore, was not valid. - Decided in favor of assessee.
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