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2022 (4) TMI 855 - AT - Income TaxValidity of reassessment proceedings - addition on account of Long Term Capital Gain - HELD THAT:- AO in the instant case, on the basis of information obtained from CIB Wing of the Department that the assessee sold immovable property issued a verification letter u/s 133(6) of the Act to the assessee and in absence of any reply from the side of the assessee, reopened the case u/s 147 and issued notice u/s 148 of the Act. Since, the assessee neither filed any return in response to notice u/s 148 nor cooperated during the course of reassessment proceedings, the AO after deducting the indexed cost of acquisition from the sale consideration of ₹ 55 lakhs made addition to the returned income of the assessee - we find the ld. CIT(A) dismissed the appeal filed by the assessee on both the counts i.e. validity of reassessment proceedings and the addition on merit. While doing so, he has given justifiable reasons for the same and has passed a very details order considering each and every aspect of the issue, we do not find any infirmity in the detailed order passed by the ld. CIT(A) in upholding the validity of reassessment proceedings and the addition on merit in absence of any contrary material brought to my notice. Accordingly, the order of the ld. CIT(A) is upheld and the grounds raised by the assessee is dismissed.
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