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2021 (4) TMI 342 - AT - Income TaxReopening of assessment u/s 147 - assessee has sold an immoveable property, she has failed to respond to notice u/s. 133(6) and thus, the assessee has failed to disclose the said transaction and which has thus been made the basis for reopening the assessment proceedings - HELD THAT:- The fact that there is a return of income already filed by the assessee wherein she has disclosed the said transaction has thus not been considered by the AO while recording the reasons. The assessee may not have responded to notice u/s. 133(6), however, where she has already filed her return of income and wherein the said transaction has been duly disclosed, there cannot be any failure on part of the assessee to disclose truly and fully such transaction. Thus, the very basis for reopening the assessment is basis incomplete facts available on record where such transaction has been duly disclosed and offered to tax which shows non-application of mind by the AO while recording the reasons and it cannot be held that there is a nexus between the material available on record and formation of belief that the income has escaped assessment. See NARAIN DUTT SHARMA VERSUS INCOME-TAX OFFICER, WARD- 6 (1) , JAIPUR [2018 (4) TMI 427 - ITAT JAIPUR] Thus where the very foundation for reopening the case is vitiated given that the assessee has filed her return of income disclosing the transaction of sale of immovable property for the specified consideration and offering the same to tax, there cannot be any reasons to believe that income has escaped assessment for the very same transaction the assumption of jurisdiction u/s. 147 cannot be sustained and the subsequent proceedings are hereby directed to be set-aside. - Decided in favour of assessee.
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