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2011 (10) TMI 434 - AT - Income TaxRevised return - Deduction u/s 35DDA - Re-opening - Validity of assessment - As is clearly evident from the reasons recorded by the AO, there was no new material coming to the possession of the AO on the basis of which the assessment completed u/s 143(1) was reopened and this position has not been disputed even by the learned DR - Third Member decision of Mumbai Bench of ITAT in the case of Telco Dadaji Dhackjee Ltd. vs. DCIT (ITA No. 4613/Mum/2005 dated 12th May, 2010), he contended that in the absence of any such new material, the reopening of assessment itself was bad in law and the assessment made in pursuance thereof is liable to be cancelled being invalid - Since there was no such tangible material before the AO from which he could entertain the belief that income of the assessee chargeable to tax had escaped assessment, the Third Member held that reassessment proceedings initiated by the AO were liable to be quashed on the ground that there was no tangible material before the AO even though the assessment was completed originally u/s 143(1) - Decided in favor of the assessee
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