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2014 (12) TMI 1022 - HC - Income TaxValidity of notice for reopening of assessment u/s 148 - Notices are beyond a period of four years from the end of the relevant AY – Held that:- In terms of Section 32 of the Act the depreciation is allowed on a block of assets and unless the same is sold it continues to be reflected in the block of assets as the items are not individualized - the AO is not required to examine the stand of the petitioners in detail - where an efficacious alternate remedy is available, we would not normally as a matter of self-restraint exercise our extra ordinary jurisdiction under Article 226 of the Constitution of India – as held in Commissioner of Income Tax & others Versus Chhabil Dass Agarwal [2013 (8) TMI 458 - SUPREME COURT] - where in issuing the notice the Authority has acted contrary to the statutory provision or in defiance of the judicial procedure, the Court would interdict such a proceeding notwithstanding an alternate remedy - the impugned reopening notices have been issued in breach of the first Proviso to Section 147 of the Act which inter alia provides that in the absence of a failure to make and disclose true, full and complete disclosure, the AO has no jurisdiction to issue notice for reopening after the end of four years from the end of the relevant AY - there has been no failure to disclose truly and fully all material information at the time of original assessment proceedings.
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