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2011 (11) TMI 417 - HC - Income TaxReopening - Time barred - Learned counsel appearing for the appellant submitted that in view of the provisions of Section 147, the order of assessment for the assessment years 1992-93, 1993-94, 1994-95 and 1995-96 is sought to be re-opened by issuing notice on 11.12.1996 after recording the satisfaction of the Assessing Officer - It is further submitted that the Assessing Officer has recorded his satisfaction before issuing notice based upon the material on record and it is not based upon the change of opinion as contended and therefore the same is also justified - Held that: Assessing Officer to re-open the assessment and also from the material which is available on record, we are satisfied that there are sufficient grounds for the Assessing Officer to re-open the assessment for the above said assessment years Regarding time limitation - it is clear that the Assessing Officer having recorded reasonable opinion for reopening the assessment for the years 1992-1993 to 1995-1996 has issued notice on 11.12.1996 and wherefore, the said notice is issued is within four years in respect of all the assessment years 1992-1993 to 1995-1996 - The original records would show that there was no opportunity for cross-examining the said statements given by the said persons and the same was denied and therefore, the authorities below were not at all justified in relying open the said statements, which were not subjected to cross-examination to test the veracity of the statements given by them before the Assessing Officer and the entire finding of the Courts below is based upon the submission of the said parties and other material on record - Appeals are allowed in part
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