AI OCR 
TaxTMI 
TaxTMI 
TaxTMI 
2026 (4) TMI 921
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....d the notice dated 29.03.2025 issued by the respondent under section 148 of the Income Tax Act, 1961 (hereinafter referred to as 'the Act' for short), seeking to reopen the Income Tax assessment of the petitioner for the assessment year 2019-2020. 3. Brief facts of the case are as under: 3.1 The petitioner is a salaried individual and filed a return of income for the year under consideration on 23.08.2019 declaring total income at Rs. 2,60,000/-. It appears that a search and seizure was conducted on BSafal Group and City Estate Groups under section 132/132A of the Act and some material was collected in such search and during the course of search, it was found that M/s City Estate Management India, a Real Estate Broker, is providing br....
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....y the petitioner to three persons namely, Shri Pravin N. Bavadiya, Shri Prakash N. Bavadia and Shri Mukeshkumar B. Vasani, on 28.08.2018 and the said land was converted into Non-agricultural, on 24.02.2021, by its owners. It is, thus, submitted that the notings in the seized Register i.e. square-yard with NA, reflects the rate of Rs. 35,000/- was with reference to NA land and as per the statement of Shri Pravin Nagjibhai Bavadia, the seized inquiry register contains the details of land available for sale at different locations at Ahmedabad and the name of the petitioner nowhere appears in the seized Register. Thus, it is submitted that the impugned notice is required to be quashed and set aside in such circumstances, as the information from....
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....issuance of notice is whether there was relevant material on which a reasonable person could have formed a requisite belief. 5.3 Reliance is also placed on the decision of the Supreme Court in the case of Anshul Jain vs. Principal Commissioner of Income-tax, [2022] 143 taxmann.com 38 (SC). It is submitted that in the present case, the documents/incriminating material which have been recovered during the search proceeding, cannot be said to be dumb documents, devoid of any evidential value. It is submitted that the material which was seized specifically mentions the names of the brokers or third parties and the same reveal the link between the petitioner and the land dealing, by paying the on-money. Thus, it is urged that, at this stage, ....
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....ntained the details of lands/plots available for sale at different locations of Ahmedabad and each entry contain the details of land, location, village, taluka, survey number, area, rate, owner of the land, etc., and he doesn't know the current status regarding the sale of the land. So far as the case of the petitioner is concerned, the reopening is premised on an entry found from a loose paper, which is extracted as below: 9. Moje-Racharda Racharda and Touch S.No. 183, 184, 298, 179, 208, 185, 211, 210, 177, 56, 266, Sq. Yard with NA Rate-35,000/- Dhaval Patel Krish 6.2 The Assessing Officer, thereafter, further verified the details of Survey No. 211 situated at Racharda and upon verification from AnyROR, which is a governm....
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....- found in a loose paper dated 22.04.2021, after the same was converted to NA land. The petitioner had, way back in 2018, sold the land to three persons. The chit does not refer to any name to whom the petitioner has sold the land. It also does not refer to the name of the persons and the only connecting link is a Survey No. 211, which belonged to the petitioner in the year 2018. Thus, after the land was sold in 2018, it has changed its status to NA by three individuals and none of the names of the individuals are referred in the loose paper and there is no connection whatsoever of Shri Dhaval Patel Krish whose name is found in the loose paper to the petitioner. The survey number mentioned in the loose paper is linked with the petitioner by....