Allowing the petition the Court  held, that the Assessing Officer failed to notice that the reassessment proceedings could not have been taken for the assessment year 2016-17, having regard to the fact that the payments for the flat were made in the financial year 2013-14 (the assessment year 2014-15) and the financial year 2014-15 (the assessment year 2015-16), and no part of the transaction took place in the assessment year in question. The objections filed by the assessee and the response given by him to the notice issued under section 133(6) of the Act. Sanctioning the commencement of reassessment proceedings, had simply rubber-stamped the proposal. There had been no application of mind. The notice of reassessment notice and order disposing the objection is quashed (AY.2016-17)