Reopening of assessment maintainable on reasons recorded for reopening

Vijay Harishchandra Patel Vs ITO (Gujarat High Court)

As is apparent on a plain reading of the reasons recorded, the very basis for reopening the assessment is that the petitioner had not filed any return of income disclosing such sale of the immovable property valued at Rs. 40,00,000. The record of the case shows that earlier, pursuant to a notice under section 148 of the Act, the petitioner had, in fact, filed return on income disclosing the sale of such immovable property, and the assessing officer after duly applying his mind to the issue had accepted the return

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