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2011 (9) TMI 171 - HC - Income TaxIncome escaping assessment - notice issued u/s 148. - Held that:- The Revenue has evidently treated the AOP as a valid entity in law and has brought it to tax in the order of assessment for A.Y. 2007-08. Once there is an AOP, the income has to be assessed in the hands of AOP. The AOP has been assessed as such and it is on that basis that the Department has pursued the assessment proceedings pertaining to the AOP. In this view of the matter, we are inclined to accept the contention of the Petitioner that the Assessing Officer properly instructed in law could not possibly have come to the conclusion that there was any escapement of tax. It must be emphasized that the assessment of the AOP is not sought to be reopened. Hence, the Assessing Officer has purported to reopen the assessment of the assessee for Assessment Year 2007-08 purely on the basis of a change in opinion and there was no valid or tangible material on the basis of which this could have been done. - Decided in favor of assessee.
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