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2017 (1) TMI 1496 - AT - Income TaxReopening of assessment - A.O. come to a conclusion based on such AIR information that cash deposits have been made in his bank account, that income assessable to tax had escaped assessment - Held that:- There is no nexus or live link between the material which had come to the notice of the Assessing officer, and the formation of his belief that there was escapement of income by the assessee which may be assessable to tax. Merely by mentioning the income of the assessee in the assessment year, and the investment made by him for the purchase of residential property, it cannot be concluded that the difference would automatically be the income which had escaped assessment. See Pravin Kumar Jain vs. ITO [2016 (3) TMI 90 - ITAT DELHI] - Decided in favour of assessee
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