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2017 (1) TMI 854 - HC - Income TaxReopening of assessment - Held that:- This Court in Hindustan Lever Ltd vs. R.B. Wadkar, Assistant Commissioner of Income Tax and Others [2004 (2) TMI 41 - BOMBAY High Court] has held that re-opening notice has to be justified on the basis of the reasons recorded at the time of issuing the impugned notice. The impugned notice must stand or fail on the reasons recorded. These reasons recorded cannot be supplemented by further reasons or by filing an affidavit and/or making oral submission. The reasons are a manifestation of the mind of the Assessing Officer and must be self explanatory and should not keep the assessee guessing. It cannot be justified on the basis of inferences or interpretation. The reasons as recorded prima facie do not seem to indicate reasonable belief that income chargeable to tax has escaped assessment. In view of above, prima facie the impugned notice is without jurisdiction. Accordingly, pending hearing and disposal of this petition there shall be stay of the impugned notice dated 31st March, 2016.
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