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2017 (8) TMI 1503 - HC - Income TaxReopening of the assessment u/s 147 - deduction u/s 80IC - search u/s 153A - Held that:- As noticed that in the reasons for reopening the assessment, a reference was made to the search conducted on the Assessee on 21st January, 2011, and that in the assessment for the Assessee’s sister concern Dharampal Premchand Limited on the basis of the said search u/s 153A it was held by the ITAT that the material seized did not constitute incriminating material even qua the sister entity concerned. Indeed today by a separate order in the appeals filed by the Revenue against the order of the ITAT in the cases of the sister concern, this Court has concurred with the decision of the ITAT in holding that the material seized in the course of search did not constitute incriminating material even for FY 2010-11, i.e., the year of search. In that view of the matter the very fundamental basis for reopening is rendered non-existent. This Court does not consider it necessary to consider the further question whether there was a justification for reopening the assessment qua the Assessee for the AY in question. - Decided in favour of the Assessee and against the Revenue.
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