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2016 (7) TMI 69 - HC - Income TaxReopening of assessment - Return accepted u/s 143(1) without scrutiny - Validity of notice issued u/s 148 - Held that:- AO had considered the objections of the petitioner and disposed them of on the basis of material on record. The sole ground of the petitioner therefore, must fail. - AO would have considerable latitude in issuing notice for re-opening if it is found that he had tangible material to form a belief that income chargeable to tax had escaped assessment, it would not be appropriate on our part to strike down the notice.
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