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2015 (10) TMI 1374 - AT - Income TaxValidity of reopening of assessment - Held that:- A plain look at the reasons recorded for reopening the assessment also prima facie shows the casual manner in which the exercise has been carried out simply on the basis of inputs received from the investigation inasmuch as the aggregate of eight entries, which is shown as closing balance, is again added to the entries and, as against total entries of ₹ 37,80,000, the income escaping the assessment is taken at double that amount i.e. ₹ 75,60,000. However, we refrain from making any further observations on this issue and, suffice to say, that learned Commissioner (Appeals) will deal with all issues relating to validity of reopening the assessment, including the issues touched upon above, as the assessee may raise, give a fair and reasonable opportunity of hearing to the assessee and decide the matter in accordance with the law and by way of a speaking order and to dispose of the matter within six months from the date of receipt of this order - Decided in favour of assessee for statistical purposes
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