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2014 (8) TMI 1029 - AT - Income TaxReopening of assessment - Held that:- In the present case there is no argument put-forth from the side of the Revenue to say that any new tangible material came to the notice of the Assessing Officer in order to initiate proceedings u/s 147 of the Act. Therefore, in our considered opinion, the initiation of proceedings u/s 147 of the Act in the present case suffered from a legal infirmity, which is in consonance with the judgement of the Hon’ble Bombay High Court in the case of Shri Amitabh Bachchan (2012 (7) TMI 374 - BOMBAY HIGH COURT ). As a result, the consequent assessment finalized on 15.12.2010 u/s 143(3) r.w.s. 147 of the Act is hereby quashed. - Decided in favour of assessee
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