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2023 (4) TMI 1324 - PUNJAB AND HARYANA HIGH COURTReopening of assessment u/s 147 - investments made towards purchase of immovable property - respondent never provided a separate copy of reasons recorded and also the sanction letter duly approved by the Principal CIT for re-assessing the case of the petitioner-assessee - HELD THAT:- With respect to the assessment order for the year 2015-16, the assessment proceedings have been completed now and no adverse order with respect to the investment made as per the sale deed has been passed. Since, the income tax for the year 2015-16 has also undergone the process of revision and the claim of petitioner with respect to the investment made on the cost of investment in the property has been accepted, no case is made out to re-open the assessment proceedings of the year 2014-15 on the same ground. Keeping in view the fact that for the income tax return for the year 2014-15, there was no concealment of income made by the assessee relating to investment in property at Panchsheel Park, New Delhi, the present writ petition is allowed.
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