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2017 (4) TMI 1317 - AT - Income TaxReopening of assessment - reasons to believe - Held that:- In the absence of an allegations that escapement of income had occurred by reason of failure on the part of the assessee to disclose fully and truly all the material facts necessary for his assessment, which is a “sine qua non” for assuming jurisdiction under section 147 in a case falling under the proviso thereto, any action taken by the AO is wholly without jurisdiction. This case seems to involve a matter of change of opinion which is not permissible under law. We, therefore, hold that the invoking of jurisdiction u/s 147 by the AO is impermissible and cannot be sustained. We, therefore, quash the order dated 28.03.2014 passed by the AO as bad in law. - Decided in favour of assessee.
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