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2015 (3) TMI 1185 - AT - Income TaxValidity of reassessment proceedings - Held that:- As essentially implies that even when an information is received from another wing, the Assessing Officer must apply his mind to the same before one can deal with the question as to whether such an information constitutes legally sustainable reasons for reopening the assessment. The question of existence or adequacy of reasons for reopening the assessment will still be a step away from this fundamental exercise. Once Sections 147/148 are resorted to, the AO must first discharge the burden of showing that income has escaped assessment. It is only thereafter that the Assessee has to provide all the answers - See CIT Vs Pradeep Kumar Gupta (See CIT Vs Pradeep Kumar Gupta - [2006 (11) TMI 184 - DELHI HIGH COURT] The very reassessment was legally unsustainable in this case. In this view of the matter, we quash the impugned reassessment proceedings. - Decided in favour of assessee
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