AJIT KUMAR SENGUPTA, J.

( 1 ) THIS appeal by the Revenue is directed against the judgment and order dated March 11, 1993, passed by the court of first instance quashing the notice under Section 148 of the Income-tax Act, 1961, and consequent reassessment, if any, for the assessment year 1973-74. The learned judge, after considering the recorded reasons, came to the conclusion that there was no prima facie evidence at all to show that the assessee has received a higher price than disclosed.

( 2 ) THE reasons which have been recorded by the Income-tax Officer are as follows :"during the assessment year 1973-74, the assessee has sold its land with building at 65, G. T. Road, Howrah, for a consideration of Rs. 2,00,000 as per conveyance deed and disclosed income under the head 'capital gains' at Rs. 13,000 and the assessment was completed accordingly. But subsequently, it was found on investigation that the market price of the said property was much more than the price shown in the sale deed. Hence, the case was referred to the Departmental valuer for ascertaining the correct and proper valuation of the property. The valuer, in his report dated April 29, 1977, estimated the market va

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