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2013 (7) TMI 320 - HC - Income TaxReassessment u/s 147 - True and full disclosure of facts - Appellate authority held reassessment not valid since no new information brought on record - Held that:- it is a case in which after filing of the return by the assessee the matter was scrutinized and on thorough examination of the facts, the initial assessment order was passed. On the basis of same set of facts, if the assessing officer was of the view that it was a case of escaped assessment, then it was a case of change of opinion and not a case for reassessment - there was no new material before the assessing officer to record a finding that on the basis of some new material, he had formed an opinion that it was a case of escaped assessment and the assessee had not disclosed the fact truly and rightly - No substantial question of law involved - Decided against Revenue.
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