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2015 (6) TMI 241 - AT - Income TaxValidity of reopening u/s 147 - proceedings initiated after the expiry of four years - Held that:- Such an assessment is being sought to be reopened without their being any failure on the part of the assessee to disclose folly and truly all material facts necessary for the assessment. Even in the “reason recorded”, the assessing officer has not ascribed any failure on the part of the assessee as to what is the failure on the part of the assessee in making the full disclosure. If the assessee has made full disclosure as contemplated under the law then, it is upon the assessing officer to draw correct inference of law from the primary facts. Once there is no failure on the part of the assessee to disclose all the material facts then, statute provides that no action can be taken for reopening the case beyond the period of four years from the end of the relevant assessment years, where order has been completed u/s 143(3). Reopening notice quashed - Decided in favour of assesse.
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