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2016 (9) TMI 1284 - AT - Income TaxReopening of assessment - notice issued based on a report from Investigation Wing - Held that:- AO’s finding that an investment was made on 31.3.2006 is factually incorrect. Therefore, to necessarily conclude that the reasons were recorded without application of mind. Therefore, on this ground itself, the reopening of assessment has to be held bad in law by following the judgements of the jurisdictional High Court in the case Signature Hotels Pvt. Ltd. vs. ITO (2011 (7) TMI 361 - Delhi High Court) wherein it was held that notice issued based on a report from Investigation Wing is invalid where the AO does not examine the evidence. - Decided in favor of assessee
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