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2014 (5) TMI 1062 - AT - Income TaxReopening of assessment - Held that:- The reopening of assessment originally completed u/s 143(3) by the AO beyond the period of four years from the end of the relevant assessment year was bad in law as rightly held by the ld. CIT(A) as the same was based merely on “change of opinion” and there was no failure on the part of the assessee, specifically pointed by the AO in the reasons recorded, to disclose fully and truly all material facts necessary for his assessment. The assessment completed by the AO us/ 143(3) r.w.s. 147 in pursuance of such invalid initiation, therefore, was bad in law and the ld. CIT(A), in our opinion, was fully justified in cancelling the said assessment. We, therefore, uphold the impugned order of ld. CIT(A) cancelling the assessment made by AO u/s 143(3) r.w.s.147 of the Act - Decided in favour of assessee.
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