2018 (8) TMI 1478

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....238) For The RESPONDENT : MRS MAUNA M BHATT (174) ORAL ORDER (PER : HONOURABLE MR.JUSTICE AKIL KURESHI) 1. Petitioner has challenged a notice dated 17.9.2017 issued by the respondent Assessing Officer to reopen petitioner's assessment for the assessment year 2011-12. 2. Brief facts are as under : 2.1 The petitioner is an individual. He earns income from investment including immov....

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....or a value of 91,00,000 vide sale deed no.6215 dt. 20/04/2010 and also sold a land at village Makarba, Ahmedabad (Sur. No.548 Hissa No.28, 2580 sq.Mtr. For a value of 46,44,000/vide sale deed no.15017 dt. 20/11/2010. Village Makarba covered as capital assets as per provisions of section 2(14) of the IT Act. However on verification of the records it is found that the assessee has not shown any inco....

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....d to two sales affected by the petitioner during the relevant period; one was a land situated at Village : Makarba for a consideration of Rs. 91 lacs, the other one was also a land of Makarba which was sold for Rs. 46.44 lacs. According to the Assessing Officer, these sales would invite capital gain in terms of the provisions of the Act. According to him however the verification would show that th....

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.... the properties which the assessee had undertaken during the relevant period. Additionally, the assessee also 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 th....