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2019 (4) TMI 418 - AT - Income TaxReopening of assessment - validity of reasons to believe - assessee showed license fee of unsold flats as ‘Income from house property’ - HELD THAT:- AO has failed to refer to any tangible material coming to his knowledge, which was relied upon for reopening the assessment, there is no merit in re-assessment proceedings initiated in the hands of assessee. It may also be pointed out that re-assessment proceedings were initiated on the ground that declaration of income from unsold flats by the assessee as ‘Income from house property’ was not correct and the Assessing Officer was of the view that income should be assessed as ‘Income from other sources’. However, the jurisdictional High Court in CIT Vs. Sane & Doshi Enterprises (2015 (4) TMI 882 - BOMBAY HIGH COURT) have held the same to be assessable as ‘Income from house property’. Accordingly, we find no merit in the jurisdiction exercised by Assessing Officer. Since we are deciding the issue on preliminary issue itself and even where the issue is in favour of assessee on merits, the appeal filed by assessee is thus, allowed.
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