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2015 (10) TMI 924 - AT - Income TaxReopening of assessment - reopening of assessment was based on information of revenue audit party and not that of Assessing Officer - Held that:- The co-ordinate Bench of the Tribunal in the case of ITO vs. Object Connect India Pvt. Ltd. (2014 (2) TMI 886 - ITAT HYDERABAD) has dismissed the appeal of the Revenue on the ground that there was absolutely no fresh information provided or collected in the re-assessment proceedings In view of the ratio laid down by the Hon’ble Delhi High Court in case of Usha International [ 2012 (9) TMI 767 - DELHI HIGH COURT] and the observations of the coordinate bench in case of S. Ranjit Reddy and Others (2013 (6) TMI 424 - ITAT HYDERABAD), we are of the opinion that the CIT(A) has rightly quashed the reopening of assessment made by the Assessing Officer u/s 147 of the Act by observing that there was absolutely no fresh information provided or collected. Accordingly, we uphold the order of the CIT(A) and dismiss the grounds raised by the revenue on this issue - Decided in favour of assessee.
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