In the recorded and order it is expressly provided  that the petitioner has sold and not purchased the land as mentioned in the reasons recorded for reopening. On writ the Court held that the entire basis for the Assessment Officer’s opinion that there has been escapement of income from assessment is wrong. The Court quashed and set aside the notice and the order rejecting the Petitioner’s objections [WP. No. 572 of 2022 dt. 3-3-2022, (AY.  2014-15)]

Rajasthan Udyog and Tools Private Limited v. ACIT (Bom.)(HC)(UR)