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2013 (10) TMI 219 - HC - Income TaxRe-opening u/s 147 / 148 of the Income Tax Act – reason to believe that the income shown as agriculture income is to be taxed as income from other sources - Held that:- Reason assigned for initiating the reassessment proceeding is non-est and no useful purpose is going to be served by permitting the Assessing Officer to proceed further in the matter as the very basis has gone - It has been held that the Tribunal was justified in treating the entire income as agriculture income. The learned counsel for the department could not dispute that the assessee had no agriculture income. The department's version that the returned agriculture income is income from other sources has been negated up to this Court for the assessment years 2001-2002 and 2003-04 – Decided in favor of Assessee.
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