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2012 (5) TMI 95 - HC - Income TaxQuashing/setting aside the re-assessment proceedings on the ground that the original re-assessment proceedings had abated – Held that:- The tribunal aside the original proceedings on the technical ground and the AO thereafter had recorded fresh reasons and issued notice under Section 147/148 of the Act - the reasons to believe now recorded have to stand independently and separate from the reasons to believe, which were recorded earlier before initiation of the re-assessment proceedings, which abated – thus the said reasons to believe and issue of notice cannot be faulted and rejected on the ground that in the earlier/original assessment or re-assessment proceedings, notice under Section 143(2) was not served on the assessee within the statutory time/period - a valid ground to quash the first/original assessment/re-assessment order cannot be a ground to quash the re-assessment proceedings, which have been initiated afresh after recording reasons to believe – against assessee.
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