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2016 (6) TMI 201 - AT - Income TaxReopening of assessment - reasons to believe - Held that:- From the reasons recorded by the AO it reveals that there is no whisper about what material facts the assessee had failed to disclose fully and truly. The reopening has been done on the basis of facts and material which were already on record. There is no allegation that there was any failure on the part of the assessee to disclose fully and truly any material fact, necessary for the completion of assessment. Even, there is no such mention of any failure on the part of assessee to disclose any material fact in the notice dated 30.03.10 served on the assessee under section 148 of the Act. The AO in the reasons recorded has mentioned about the fact and circumstances already available on the record. The reopening in this case, thus, is hit by the 1st Proviso to section 147 of the Act as discussed above. Thus the very reopening in this case is bad in law and the same is set aside - Decided in favour of assessee
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