Allowing the petition the Court held that the Assessing Officer ought to have considered the objections raised by the assessee in response to the notice under section 148A(b) and should have disposed of it as mandated under section 148A(c). Court also held that   since the income escaping assessment was less than Rs. 50 lakhs, section 149(1)(b) could not have been invoked. The assessee and his brother were joint owners of the inherited property with respective share of 50 per cent. each and both being joint vendors were entitled to equal share of the consideration amount of Rs. 32,68,000 each and this had been accepted by the Revenue. The reassessment proceeding initiated by the Department was barred by limitation and was beyond jurisdiction. Hence, the entire enquiry proceeding under section 148A, the order under section 148A(d) and the notice under section 148 were quashed.(AY. 2016-17)