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2016 (7) TMI 190 - AT - Income TaxReopening of assessment - reasons to believe - Held that:- AO had issued a detailed questionnaire which was duly replied by the assessee. It has furnished statutory audit accounts under the Companies Act as well as audit report in Form No.3CA and 3CD along with return. The assessee has submitted all other details called for by the AO. In the reasons recorded by the AO to reopen the assessment, nowhere it has been alleged that the assessee has failed to disclose any particular item fully and truly. The proviso appended to section 147 puts fetter on the power of the AO to reopen the assessment in the case where originally the assessment was passed under section 143(3) and four years have expired. In such cases no notice under section 148 can be issued unless it is established that income chargeable to tax has escaped assessment on account of failure of the assessee to disclose all material facts fully and truly. No such allegation has been leveled by the AO. Therefore, the ld.CIT(A) has rightly quashed the re-assessment order. - Decided against revenue
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