Held that for a valid assumption of jurisdiction to reassess, the Assessing Officer must have definite and specific information or material which should lead to formation of the belief that any income chargeable to tax has escaped assessment. The assessee had declared capital gains in the return which clearly showed that there was non-application of mind on the part of the Assessing Officer while recording the reasons as he did not consider the return furnished by the assessee wherein capital gains had been shown. Thus, non-existing facts did not lead to formation of the belief under section 147 of the Act which was a condition precedent under section 147 of the Act as there was no rational nexus between the information available and the formation of the belief. Therefore, the assumption of jurisdiction under section 147 of the Act was unsustainable. Tribunal also held that there is no provision for making provisional assessment order.  Addition based on solely on report of District Valuation Officer is not valid. (AY.2010-11)