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2016 (7) TMI 1436 - AT - Income TaxReopening of assessment - receipt of gifts - reason to believe - non independent application of mind - Held that:- Assessing Officer has recorded the reasons on the basis of information received from the Investigation Wing. There is no specific allegation in the reasons recorded with the information given by Investigation Wing. Therefore, it is apparent that AO has not applied his mind so as to come to an independent conclusion that he has reason to believe that income has escaped. There is failure on the part of the ld Assessing Officer in applying his own mind to the information available. On this count reassessment proceedings are not sustainable. The satisfaction recorded by the joint Commissioner of income tax Range-25, New Delhi wherein he has simply given approval stating that “Yes I am satisfied”. The above kind of satisfaction shows that Joint Commissioner did not apply his mind but signed on the dotted line. See CIT Vs. S Goenka Lime and Chemicals Ltd. [2015 (12) TMI 1334 - SUPREME COURT OF INDIA] - Decided in favour of assessee
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