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2016 (4) TMI 402 - HC - Income TaxReopening of assessment - Held that:- All that the reasons refers to is the material already on record before the AO at the time that the original assessment order was passed under Section 143(3) of the Act. There is not a whisper that there has been a failure by the Assessee to fully and truly disclose the material facts. Consequently, the Court has no hesitation in holding that the order dated 18th March 2002, recording the reasons for the reopening of the assessment for AY 1994-95, is not in conformity with the mandatory requirement under Section 147 of the Act and therefore is unsustainable in law. - Decided in favour of assessee
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