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2019 (10) TMI 1290 - AT - Income TaxReopening of assessment u/s 147 - notice beyond the period of four years from the end of relevant assessment year - HELD THAT:- The reading of the reasons placed by the assessee in the Paper Book shows that there is not even an allegation that there was any failure on the part of the assessee to disclose any material facts which lead to any income chargeable to tax had escaped the assessment. Even on the reading of the reasons recorded, it cannot be said that it suggests about any failure on the part of the assessee to disclose truly and fully all material facts necessary for assessment. It is now well settled that the reasons which are recorded by the A.O. for reopening the assessment are the only reasons which can be considered and no substitution or deletion is permissible. The reasons which are recorded by the AO for reopening an assessment are the only reasons which can be considered when the formation of the belief is impugned. Reading of the reasons for re-opening of the assessment, it is seen that the notice has been issued and reassessment has been sought for verification of the cash and cheque transactions in the bank account of the assessee. In the present case, notice for re-opening of the assessment u/s 147 is not as per the mandate of Sec.147 and therefore the re-opening is not permissible. Notice issued for reopening has to be set aside and the same deserves to be quashed. Therefore quash the impugned re-assessment proceedings for A.Y. 2009-10 and thus, set aside the same. Ground No.1 of the assessee is allowed.
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