Taxpayer Challenges Property Assessment Reopening Under Income Tax Act Sections 147, 50C; Proximity to Ghaziabad Key Issue.

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....Reopening of assessment u/s 147 - addition u/s 50C - assessee has sold two immovable properties in equal co-ownership with one person - nature of land sold - AO found that the village Morti/Morta is only 2.5-03 kilometers from the outer limit of the Ghaziabad Municipal Corporation. - Therefore, we do not give much importance to the contents of the certificate (issued by GNN) which is far from truth. - AT....