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2018 (8) TMI 1478 - GUJARAT HIGH COURTReopening of assessment - failure to disclose the income from sale of two properties - reason to belief - Held that:- During scrutiny assessment the Assessing Officer had raised queries, inter alia, with respect to such capital gain. In letter dated 24.7.2013, the Assessing Officer asked the assessee to clarify various sales and purchases of the properties which the assessee had undertaken during the relevant period. Additionally, the assessee also asked him to supply the purchase deed, sale deed, mode of payment alongwith supporting evidence. In particular, the Assessing Officer wanted information about the sale of the said two properties. Assessing Officer passed an order of the assessment in which he made no addition on this score. In other words, he accepted the assessee’s computation of capital gain arising out of sale of these two lands. The assertion of the Assessing Officer in the reasons recorded that the assessee had not offered the gain arising out of sale of two lands in the return, is thus palpably wrong. - Decided against the revenue.
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