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2011 (6) TMI 142 - AT - Income TaxReopening - Income escaping assessment - it is well settled as a result of several decisions of the Apex Court that two distinct conditions must be satisfied before the ITO can assume jurisdiction to issue notice under section 147(a) - Held that: the reopening is beyond four years' and there is no failure on the part of the assessee - Since there is no failure on the part of assessee to disclose fully and truly all material facts necessary for the assessment, the reopening under section 147 is invalid and is hereby quashed Assessing Officer issued notice under section 148 without issuing notice under section 143(2), we find that this issue is covered in favour of assessee - held that proceedings initiated under section 147 of the Act is without jurisdiction and bad in law. Therefore, the order of the Assessing Officer to that extent is quashed - Decided in favour of the assessee
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