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2019 (5) TMI 752 - HC - Income TaxRevision u/s 263 after Reopening of assessment initiated - applicability of the provisions of Section 50C while computing the capital gains - enquiry by AO - HELD THAT:- Tribunal recorded findings of fact to the effect that the Assessing Officer actually carried out an enquiry after the reopening of the proceedings and that once there was an application of mind, on the part of the Assessing Officer, it was not open to the Commissioner to invoke the jurisdiction u/s 263 It is seen from the Order of the Commissioner u/s 263 that the Assessment was actually reopened on the ground that the assessee did not offer capital gains. The reopening was u/s 148 after issuing notice u/s 147. Thereafter, the assessment was completed u/s 143(3). In such circumstances, what the Commissioner attempted to do by invoking Section 263 of the Act was only to re-appreciate the facts. Since it is not permissible, the appeal does not give rise to any substantial question of law. Hence, it is dismissed.
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