Reopening invalid if on incorrect premise that assessee has not filed return

Mumtaz Haji Mohmad Memon Vs ITO (Gujarat High Court)

The Assessing Officer may be correct in pointing out that when the sale consideration as per the sale deed is Rs.50 lakhs but the registering authority has valued the property on the date of sale at Rs.1,18,95,000/-­ for stamp duty calculation, section 50C of the Act would apply, of course, subject to the riders contained th

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