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2011 (1) TMI 146 - HC - Income TaxReassessment - U/s 147, 148 - As per the proviso to section 147 of the Income-tax Act, 1961 the assessments beyond four years from the end of the relevant assessment year can be reopened only if there is failure on the part of the assessee to disclose fully and truly all material facts necessary for the assessment – Hence, the notice issued under section 148 of the Income-tax Act, 1961 cannot be sustained – Issue in favour of assessee.
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