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2013 (4) TMI 367 - DELHI HIGH COURTNotice U/s 148 of the Income Tax Act, 196 - Exemption of towards long term capital gain U/s 10(23g) of the Income Tax Act, 1961 - Approval for claiming the exemption was not received from the Government - The assessee company has furnished wrong evidence as the name of the assessee company appears on the certificate of M/s. RPG Cellular Services Ltd and not RPG Cellular Investment and Holding Pvt Ltd - Held that:- In the present case, this has reference to the investee company which is M/s. RPG Cellular Services Limited. Therefore, the respondents were wrong in requiring the petitioner to furnish an approval with regard to the petitioner company, which is the investor company. Insofar as the investee company is concerned, the petitioner had already placed on record an approval under Section 10(23G) dated 18.11.2004 In the aforesaid circumstances, there is absolutely no reason for reopening the assessment under Section 147 of the said Act. The purported reason for re-opening does not exist. Consequently, we set aside and quash the notice dated 30.03.2011 as also the order dated 21.11.2011 - Decided in favor of assessee.
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