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2022 (12) TMI 402 - HC - Income TaxReopening of assessment u/s 147 or assessment u/s 153C - HELD THAT:- Undisputed facts of the case are, based on the agreement found during the search in the premises of M/s Davanam Jewellers Pvt. Ltd., the assessment was reopened for A.Y.2006-07. The assessment order does not indicate the procedure followed in re-opening the assessment. In addition protective assessment for A.Y.2007-08 has also been completed. As perused the agreement. Shri Chandrashekar is right in his submission that though the agreement is undated, the stamp paper bears the date of purchase as October 9th, 2009. The details of the payments are shown. In agreement, it is stated that the possession of the land shall be handed over after execution of the sale deed. In the facts of this case, in the absence of details in the assessment order with regard to the procedure followed and want of reasons whether assessment could be done under Section 147 or 153C which is a question of law, in our considered opinion, same requires to be answered by the ITAT. As pointed out by Sri Aravind that the question with regard to conclusion of assessment in similar case is pending consideration which has been heard and reserved for orders by the Apex Court. Thus the matter requires consideration in the hands of the ITAT. Accordingly, this matter is remitted on the file of the ITAT for fresh consideration in accordance with law.
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