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2014 (7) TMI 690 - GUJARAT HIGH COURTReassessment proceedings u/s 147 – Proceedings already set aside in earlier assessment year on similar facts – Held that:- The initiation of the reassessment proceedings with respect to the AY 2005-06 has been set aside, which were sought to be initiated on the ground on which the reassessment proceedings by observing that there was no failure on the part of the assessee to disclose truly and fully all material facts - the reassessment proceedings for the AY 2005-06 with respect to the very assessee, which were sought to be initiated on the very ground on which the reassessment proceedings are initiated for the subsequent AY 2006-07 and 2007-08 are set aside by the Court and the facts are similar to that of the AY 2005-06, the reassessment proceedings for the AY 2006- 07 and 2007-08 deserve to be quashed and set aside – Decided in favour of Assessee.
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