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TMI Blog2019 (1) TMI 119X X X X Extracts X X X X X X X X Extracts X X X X ..... al premise by solely and mechanically relying upon the information received from other sources without forming any independent opinion that income chargeable to tax has escaped assessment and, therefore, the assumption of jurisdiction on the part of the Assessing Officer under section 147 of the Act by issuing the impugned notice is without authority of law. As further submitted that in the rea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... For the Respondent : None ORAL ORDER (PER : HONOURABLE MS.JUSTICE HARSHA DEVANI) 1. Mr. Hardik Vora, learned advocate for the petitioner has invited the attention of the court to the reasons recorded for reopening the assessment for assessment year 2011-12, to submit that the assessment is sought to be reopened on the ground that the petitioner has indulged in a sham transaction ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2009. 2. It was pointed out that in the case of the petitioner, in the first place, the amount of ₹ 9,52,525/- stated to have been received by the assessee is incorrect. Reference was made to the working of capital gains annexed along with the return of income to point out that such amount is ₹ 9,50,625/-. It was further pointed out that the year of acquisition of the shares is 200 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assumption of jurisdiction on the part of the Assessing Officer under section 147 of the Act by issuing the impugned notice is without authority of law. 3. It was further submitted that in the reasons recorded, the Assessing Officer has stated that in this case the assessee has not filed any return of income for the year under consideration, which is factually incorrect as the petitioner had du ..... X X X X Extracts X X X X X X X X Extracts X X X X
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