HC Quashes Section 147 Assessment as reason for reopening was not sustainable

Giraben Atulbhai Shah Vs ACIT (Gujarat High Court) The objections raised by the assessee came to be disposed of by the Assessing Officer vide his order dated 16th November 2021 stating that the assessee sold immovable property for an aggregate value of Rs.52 Lakh and the same was not offered for tax in the return of income. We find merit in the contention raised by Mr. Dave that the reasons assigned by the Assessing Officer for reopening of the assessment for the relevant year are factually incorrect. This is apparent from page : 35 of the paper book, which is a part of the return of income fi...