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2013 (5) TMI 47 - HC - Income TaxNotice U/s 148 of the Income Tax Act, 1961 - Escaped assessment U/s 147 - The assessee had not filed his return of income for A.Y. 2006-07 for which the time limit had expired - Has obtained accommodation entries - Held that:- The Assessing Officer stated that further he was in possession of information which suggested that the Petitioner had obtained accommodation entries from one Bhavesh Lakhani, proprietor of Pratik Sales Corporation - The appellate authority specifically referred to the extract from the reasons furnished to the assessee and stated that the Assessing Officer had proceeded on the basis that the assessee had not filed his return of income though he has taxable income. Consequently, the order of the CIT(A) (which in any event has not attained finality) did not bar fresh proceedings under Section 148 - Though the reopening has taken place beyond the period of four years, the reasons which have been indicated to the assessee have a sufficient nexus with the proviso to Section 147 so as to justify the reopening - This is not a case involving a change of opinion since the Assessing Officer has come in possession of material which would indicate that there has been an escapement of income - We do not find any reason to interfere in these proceedings under Article 226 of the Constitution - The Petition shall stand dismissed in favour of Revenue.
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