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2017 (3) TMI 982 - CALCUTTA HIGH COURTReopening of assessment - whether the audit objection may be treated as an escapement or the suppression of the material fact being the ingredients engrafted under section 147? - Held that:- Admittedly the assessing officer simply act on the instruction of the CIT despite signifying his opinion that the audit objection is unacceptable and proceeding should not be initiated simply on the basis thereof. This court, therefore, finds that preliminary objection raised by the assessee petitioner has been wrongly decided by the Assessing Officer in upholding its jurisdiction on both the counts as indicated hereinabove. The order impugned is, thus, set aside. The preliminary objection filed by petitioner succeeds. The notice under section 148 is hereby quashed and set aside. - Decided n favour of assessee
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