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2017 (9) TMI 1683 - RAJASTHAN HIGH COURTReopening of assessment - assessment done on the basis of material found during the course of survey and not on the basis of annulled assessment u/s 143(3)- Held that:- It will not be out of place to mention that the judgment which sought to be relied upon by the tribunal in the case of Babulal Lath (2001 (3) TMI 1031 - ITAT MUMBAI) has not been diluted by any other court wherein held as the proceedings under section 147 were initiated to circumvent the time-barred assessment [which was quashed by the Commissioner (Appeals)] and, hence, they are illegal, without jurisdiction and bad in law. We are of the considered opinion the tribunal has rightly held that the matter of re-assessment u/s 147 was done on the basis of material found during survey subsequent to assessment on 18.3.03. Therefore, we are of the opinion that tribunal rightly decided the issue in favour of the assessee and first issue is required to be answered in favour of the assessee. With regard to second issue in view of finding on issue no.1, this issue is also answered in favour of the assessee.
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