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2004 (8) TMI 23 - HC - Income TaxNotice u/s 148 – reopening of the assessment - Although, the learned judge in his judgment practically was of the opinion that the Revenue failed to substantiate its claim that on the basis of the information the AO had reason to believe that there was suppression of income by the assessee-company, still he preferred to rely on the statement made by the company in its writ petition. On the basis of such statement, the learned judge was of the opinion that there cannot be any doubt that the AO had sufficient reasons to issue the notice for the purpose of reopening the assessment for those three years. But we are unable to agree with this approach of the learned judge in coming to the conclusion that the AO was justified in issuing the notice – Further, law does not allow the AO to reopen the assessment on any other new ground which is not the basis of the issuance of the notice u/s 148 – impugned notices are set aside - assessee’s appeal is allowed
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