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2015 (8) TMI 261 - ITAT MUMBAIReopening of assessment - legality of assessment framed u/s 143(3) r.w. notice of reopening u/s 148 challenged - Held that:- At the outset, the notice is far outside the period prescribed under section 149, i.e., the notice has to be issued within a period of 4 years or 6 years from the end of the assessment year, therefore, issued on March 23, 2009 is far outside, hence the notice is bad in law. On the second argument, that there must be cogent reasons for reopening, that too, we find that the reasons as recorded in the impugned notice are the same in sum and substance and that there is nothing new which has been found and added and which made the present proceeding/ reasons different from the earlier reasons. Thus the reassessment proceedings are held to be bad and, we therefore, cancel the initiation of reassessment proceedings - Decided in favour of assessee.
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