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TMI Blog2018 (8) TMI 1478X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. - R/SPECIAL CIVIL APPLICATION NO. 3507 of 2018 - - - Dated:- 20-8-2018 - MR. AKIL KURESHI AND MR. B.N. KARIA, JJ. For The PETITIONER : MR TUSHAR HEMANI with MS VAIBHAVI K PARIKH (3238) For The RESPONDENT : MRS MAUNA M BHATT (174) ORAL ORDER ( PER : HONOURABLE MR.J ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er on verification of the records it is found that the assessee has not shown any income under the head capital gain in respect of sale of above two properties. In view of the above facts, I have reason to believe that the income chargeable to tax has escaped assessment more than ₹ 1,00,000/for the A.Y. 2011-12. Therefore, I am satisfied that it is a fit case for reopening the assessment u/s.147 of the IT Act. Thus the case needs to be reopened by issuing notice u/s.148 of the I.T. Act, 1961. 2.2 Upon being supplied the reasons, the petitioner raised objections for notice of reopening under letter dated 1.2.2018. Such objections were rejected by the Assessing Officer by an order dated 16.1. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. These were the only two properties sold by the assessee during the relevant period. Rest of the details asked by the Assessing Officer under this subhead pertain to purchase of properties. The petitioner replied to such letter of the Assessing Officer under communication dated 12.3.2014. He pointed out that one of the land was sold on 20.4.2010 for ₹ 91 lacs and the other land was sold on 26.10.2010 for ₹ 46.44 lacs. It was after such examination of the issue, the Assessing Officer passed an order of the assessment in which he made no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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