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2019 (4) TMI 1806 - HC - Income TaxReopening of assessment u/s 147 - validity of reopening reasons - HELD THAT:- ITO has recorded reasons that the issue under consideration were never examined by the Assessment Officer during the course of regular assessment/ re-assessment and have, thus, escaped assessment because material facts relevant for the assessment on the issue under consideration were not filed during the course of assessment proceeding or were not considered during the assessment. In Phool Chand Bajrang Lal [1993 (7) TMI 1 - SUPREME COURT] the Supreme Court has held that the Assessment Officer may start reassessment proceedings either because some fresh facts had come to light which were not previously disclosed or some information with regard to the facts previously disclosed comes into his possession which tends to expose the untruthfulness of those facts. In such situations, it is not a case of mere change of opinion or the drawing of a different inference from the same facts as were earlier available but acting on fresh information. It is held therein that since the belief is that of the Income-tax Officer, the sufficiency of reasons for forming this belief is not for the court to judge. In all the cases there exists material to infer that income has escaped assessment, therefore, issuance of notice under Section 148 of the Act is based on such reasons as is permissible in law, therefore, reassessment notice itself cannot be set aside at this stage. This Court is satisfied that the notice under Section 148 of the Act or the reasons recorded for issuance of such notice do not suffer from any illegality or infirmity.- Decided against assessee.
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