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2013 (2) TMI 406 - HC - Income TaxRe opening of assessment - assessee has received the benefit from the scheme of amalgamation, the same would be offered for tax as business Income - Held that:- The purported reasons for reopening do not even allege that there has been a failure on the part of the assessee to disclose any material fact. In fact, even in the impugned order dated 31.05.2012 there is no mention of what fact the assessee had failed to disclose which was necessary for the assessment in the original round of assessment. Failure to disclose all material facts necessary for assessment is a condition precedent for reopening of an assessment beyond the period of four years from the date of assessment. This is a pre-condition set out in the statute itself. This pre-condition has not been satisfied the impugned notice ought to be set-aside - in favour of assessee.
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