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2016 (12) TMI 873 - HC - Income TaxReopening of assessment - AO granted exemption though assessee did not claim the exemption on long term capital gain - Held that:- If, on the material on record, the Assessing Officer grants some benefit / exemption, that cannot be the ground to reopen the assessment beyond four years. A wrong grant of benefit / exemption by the Assessing Officer cannot be the sole ground to reopen the assessment beyond four years for reopening of the assessment beyond four years. What is required is that there shall be non disclosure of true and correct facts by the petitioner – assessee, which were required for assessment. Under the circumstances, without further entering into the larger question whether without filing the revised return of income and /or without claiming the exemption in the return of income whether such exemption can be allowed or not, on the aforesaid ground alone i.e on the ground that the conditions precedent, which are required under the provisions of Section 147 of the Income Tax Act to reopen the assessment beyond the period of four years are not satisfied, the impugned reopening proceedings deserves to be quashed and set aside. - Decided in favour of assessee
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