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2015 (2) TMI 856 - HC - Income TaxReopening of assessment - un-accounted payment made to the subcontractor - Tribunal set aside reopening notice - Held that:- The Tribunal having considered the record, correctly found that when the earlier assessment was made before the AO, one of the query was in respect to the payment made to the subcontractor and the assessee had furnished all details. In this manner, all preliminary informations were already there on record. The Tribunal also found that the possibility of forming an opinion about the expenditure claimed by assessee could not be ruled out at the time when the earlier assessment was made and therefore, thereafter, the AO is not entitled to change the opinion and thereby again reopen the assessment within the period of four years.Issue is already covered by the decision of this Court in the case of Gujarat Power Corporation Ltd. (2012 (9) TMI 69 - Gujarat High Court). - Decided in favour of assessee.
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