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2011 (10) TMI 699 - ITAT MUMBAI
Reopening of assessment - reasons to believe - Held that:- There is no live link between the reasons recorded by the AO and the addition made and also in the absence of any tangible material to show that the transactions of 8200 shares of Rashel Agro Tech. Limited amounting to ₹ 3,89,050/- are not genuine, we are of the view that the assessment completed by the AO is bad in law, the same is, therefore, quashed.