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Judgment
This assessee’s appeal for Assessment Year 2015-16 arises against the C IT(A)/NFAC, De lhi’ s DIN & order No. ITBA/NFAC/S/250/2025-26/1076388993(1) dated 22.05.2025, in proceed ings u/s 144 of the Income Tax Act, 1 961 (in short “the Act”).
Heard both the p arties at length. Case file perused.
It transpires during the course of hearing that there arises the first and foremost legal issue of validity of the impugned reopening itself as the learned assessing authority had set into motion section 148/147 proceedings against the assessee regarding the sole reason of entire sale proceeds of Rs.2,00,00,000/-whereas his assessment framed on 29.03.2023 ended up adding shor t cap ital gains of Rs.43,58,771/- in question. It is thus clear that the learned assessing authority has no where made any addition qua the above so le reason of reopening involving other assessee’s sale consideration.
That being the clinching case, I hereby quote Ranbaxy Laborator ies Ltd. vs. Union of India (2011) 336 ITR 136 (Del.) and CIT vs. Jet Airways (India) Ltd. (2011) 331 ITR 236 (Bom.) to quash the impugned reopening for the above precise reason in very terms.
This assessee’s appeal is allowed.