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2022 (2) TMI 594 - HC - Income TaxReopening of assessment u/s 147 - assessee sold immovable property for an aggregate value of ₹ 52 L akh and the same was not offered for tax in the return of income - HELD THAT:- We find merit in the contention raised that the reasons assigned by the Assessing Officer for reopening of the assessment for the relevant year are factually incorrect. In column No.8 of the same, we find reference of ₹ 52 Lakh towards full value of consideration. Although Mr. Bhatt tried to say something as regards the cost of acquisition with indexation, yet we are of the view that factually there is no foundation for the Revenue to reopen the assessment on the ground as alleged in the reasons assigned to the writ applicant – assessee. Writ application succeeds and is hereby allowed
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