Allowing the appeal the Tribunal held that although the Assessing Officer had information coming into his possession that the assessee had sold the property but had not returned or paid the capital gains tax, he was also aware that the necessary enquiries were made in this respect not only by his office but also by the Investigation Wing that too not only during the survey action at the premises of the assessee carried out under section 133A but also thereafter. The assessee duly explained the transaction and explained that the land being agricultural and not falling within the definition of capital asset under S.  2(14) hence was not exigible to capital gains tax. The AO based his reasons for reopening of the assessment on the information received from the Deputy Commissioner which did not support the reasoning given by the AO .When the very reasons on the basis of which the reopening, allegedly, could not form the basis of forming the belief by the AO that  the income of the assessee had escaped assessment, the consequential reassessment order formed by the AO under S. 147 was illegal and the order was accordingly quashed.( AY.2008-09)