Revenue issued notice under section 148A(b) for alleged not declaring full value of consideration as per the stamp valuation. The Assessee filed the writ petition. and contended that during assessment year 2016-17, he paid only a sum of Rs. 1,00,000/-, pursuant to Judgment and decree dated 16-10-2014 and therefore, question of invoking section 50C did not arise at all. He relied on first proviso to section 50C. Court held that  although, submission was made by assessee on merits on strength of proviso to section 50C fact remained that assessee had not filed regular return under section 139 for assessment year 2016-17. Even, if assessee might have a case for dropping of proposed proceedings, it would be better for him to file a proper reply to notice issued under section 148 as there was no previous history of any proceeding under Income-tax Act. Accordingly writ petition is dismissed and the Assessing Officer was directed to take into consideration of all relevant facts before proceedings to conclude whether any income had escaped assessment for assessment year 2016-17. (AY. 2016-17)(SJ)