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2018 (2) TMI 1835 - HC - Income TaxReopening of assessment - notice issued beyond period of four years - eligible reason to believe - HELD THAT:- When the assessment is already completed under Section 143(3) or under Section 147 of the Act, after expiry of four years from the end of the relevant assessment year, no actions can be taken under Section 147 unless income chargeable to tax has escaped assessment because of failure of the assessee to file return under Section 139 or in response to notice issued under Section 142(1) or 148 or to disclose fully and truly all material facts necessary for assessment. It appears that during the course of original assessment proceedings, assessee has furnished details. The reasons recorded are totally silent in respect of the failure on the part of the assessee to disclose fully and truly material facts. If we peruse the reasons recorded by the Assessing Officer, it reveals that at the time of recording of these reasons, Assessing Officer had examined original assessment records and no fresh material was found by him. Therefore, it can be said that the concerned Assessing Officer has recorded the reasons on the basis of the same fact of materials and records which were available at the time of framing of original assessment. - Decided in favour of assessee
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