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2014 (3) TMI 936 - HC - Income TaxValidity of Notice u/s 148 of the Act - Reopening of assessment – Income escapement - Held that:- Notice for reopening had been issued within a period of four years from the end of the relevant assessment year - the additional requirement arising out of the proviso to Section 147 of the Act of the income escaping the assessment due to failure on the part of the assessee to disclose truly and fully all material facts would not arise - certain aspects of the matter were brought to the notice of the AO by the audit party. The Assessing Officer was convinced that on third ground recorded in the reasons, income chargeable to tax had escaped assessment - such ground was also brought to her notice by the audit party and that by itself would not mean that she was acting at the instance of the audit party – Relying upon Commissioner of Income Tax v. P.V.S Beedies Private Limited[1997 (10) TMI 5 - SUPREME Court] – if a particular issue is brought to the notice of the AO by the audit party and the AO of his/her application of mind finds that the ground is valid, reopening of assessment cannot be quashed merely because such ground was brought to the notice of the AO by the audit party - thus, the notice cannot be quashed – Decided against Assessee.
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