Assessing Officer reopened assessment of assessee-company on basis that reversal of transfer of TDR of a land on account of cancellation of MoU entered into by assessee with its subsidiary company was wrongly allowed as a deduction and should be treated as capital in nature. On writ allowing the petition the Court held that since said reason for reopening was based on notes already submitted by assessee during original assessment and there was no new information brought on record, jurisdictional conditions mentioned under section 147 were not satisfied. Accordingly the notice of reassessment and order disposing the objection was quashed. (AY. 2015-16 )