2022 (10) TMI 1025

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....come Tax-2, Ahmedabad erred in passing order under section 263 of the Act holding Assessment Order passed by the Assessing Officer as erroneous in so far as it is prejudicial to the interest of revenue and set aside and AO is directed to pass fresh Assessment Order." 3. The return of income was filed on 30.09.2013 declaring total income of Rs.1,60,88,630/-. Subsequently the case was reopened under Section 147 of the Income Tax Act, 1961 and notice under Section 148 of the Act was issued. In response to the notice issued under Section 148 of the Act, the assessee filed return of income on 07.05.2016 declaring the income as per original return of income filed on 30.09.2013. The Assessing Officer made addition on account of short working of....

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....Assessing Officer to pass fresh assessment order after properly ascertaining the correct facts on the said issues. 4. Being aggrieved by the order under Section 263 of the Act passed by the PCIT, the assessee is before us. 5. The Ld. AR submitted that the Assessing Officer in the reopening proceedings has issued notice under Section 142(1) of the Act thereby specifically calling the details of immovable properties sold during the year under consideration and asking for the working of the capital gain for which the assessee has replied to the Assessing Officer on 22.07.2017 thereby stating the details along with copy of DVO order describing indexed case of acquisition as well as expenses and the land valuation. The Assessing Officer, a....