TMI Blog2020 (10) TMI 305X X X X Extracts X X X X X X X X Extracts X X X X ..... isclosed the full value in Annexure 1-A of the sale deed and that he had shown a lesser amount in the returns, cannot be sustained for two reasons. Firstly, such a reasoning was not assigned while the petitioner's objections were considered at the time of passing the assessment order. This ground of objection has been brought in the first time by way of a counter affidavit, which is impermissible. Secondly, Annexure 1-A is a statement made along with sale deed presented for registration and the value of ₹ 1,94,95,000/- is only a guideline, whereas the recitals in the sale deed evidences that the property was purchased at ₹ 1,50,00,000/-. Therefore the guideline value shown in the Annexure 1-A of the sale deed, cannot be c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at a lesser price. In this background, the assessment under Section 143(3) was completed. 3. On 30.03.2016, the respondent issued a notice under Section 148 to reopen the assessment for the Assessment Year 2009-10. In response, the petitioner requested to treat the returns already filed on 30.09.2009 as returns, in response to the notice under Section 140. The request came to be rejected and the assessment under Section 143(3) was completed through the impugned assessment order dated 30.12.2016. 4. The learned counsel for the petitioner submitted that the notice under Section 148 on 30.03.2016 was beyond the period of four years and therefore, is barred by limitation in view of the proviso to Section 147 of the Act. 5. Mr.A.P.Srin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not assigned while the petitioner's objections were considered at the time of passing the assessment order. This ground of objection has been brought in the first time by way of a counter affidavit, which is impermissible. Secondly, Annexure 1-A is a statement made along with sale deed presented for registration and the value of ₹ 1,94,95,000/- is only a guideline, whereas the recitals in the sale deed evidences that the property was purchased at ₹ 1,50,00,000/-. Therefore the guideline value shown in the Annexure 1-A of the sale deed, cannot be construed to be an actual sale value and therefore the consequential decision that the petitioner had under quoted the sale amount in the returns, cannot be accepted. Nevertheless, i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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