2023 (3) TMI 1410

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ondent : A.S.G.I.,Gaurav Mahajan,Sudarshan Singh ORDER 1. Heard Sri Abhinav Mehrotra, learned counsel for the petitioner, Sri Krishna Agarwal, learned counsel for the revenue and Sri Sudarshan Singh, learned counsel for the Union of India. 2. Present petition has been filed seeking quashing of the reassessment proceedings initiated against the petitioner under Section 148A(d) of the Income Tax ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ceedings against the petitioner. 4. The revenue authorities have initiated reassessment proceedings against the petitioner on a wrong assumption of fact that the petitioner had sold certain valuable immovable property worth Rs. 77,85,000/-. That being an unfounded fact assumption, no satisfaction may have ever arisen with the Assessing Authority to initiate reassessment proceedings against the pe....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e of the proceedings. However, the jurisdictional assessing authority has apprised the learned counsel for the revenue that there is a mistake in initiation of reassessment proceedings against the petitioner for the assessment year in question. To that end, jurisdictional assessing authority has already written to the faceless assessing authority informing that authority about the correct facts. ....