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2014 (10) TMI 113 - HC - Income TaxReopening of assessment u/s 147 – Reason to believe - claim of deduction u/s 80HHC – Held that:- The Tribunal had rightly held that the assessee had disclosed all material facts - Had they not been disclosed, then, it was not possible for the revenue to bifurcate the income from the export and income from salary - If the deduction which was disclosed as income from export included the salary, then, that was also disclosed and material facts in relation thereof were on record - though the Tribunal could not have upheld the exercise of powers by the AO, the case clearly fell within the proviso to section 147 – the facts was not falling within the later part of the distinction made by the Tribunal but the earlier one – the AO could not have proceeded u/s 147 – the order of the Tribunal is upheld – Decided against revenue.
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