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2015 (10) TMI 522 - AT - Income TaxReopening of assessment - validity of notice - Held that:- Income-tax Act empowers the Assessing Officer to issue notice under Section 143(2) to verify the correctness of the income or loss disclosed by the assessee. The Assessing Officer has to issue the notice under Section 143(2) within the time limit specified in the said Section. If the Assessing Officer failed to issue the notice under Section 143(2) within the time limit specified in that Section, he cannot issue the notice under Section 148 just for the purpose of ensuring the correctness of the income disclosed or the loss disclosed or to scrutinize certain income or expenses. In view of the above, we are of the opinion that reopening of assessment by the Assessing Officer for the purpose of scrutiny of dividend income, capital loss or household expenses is not permissible. Therefore, the notice issued under Section 148 is quashed and consequentially, the assessment order framed in pursuance to the notice under Section 148 is also quashed. - Decided in favour of assessee.
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