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2018 (2) TMI 1774 - AT - Income TaxReopening of assessment - disallowance made under section 54F - Held that:- Reasons recorded under section 148 of the Act does not pertain to the issue of claim under section 54F and, therefore, the disallowance made by the Assessing Officer is arbitrary, illegal and without jurisdiction. We accordingly set aside the order of the CIT(A) and annul the assessment framed by the Assessing Officer under section 147/143(3) and delete the disallowance made under section 54F of the Act. We have allowed the legal ground in favour of the assessee, therefore, all other grounds on merits taken by the assessee become academic and infructuous. - Decided in favour of assessee.
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