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2017 (3) TMI 1389 - HC - Income TaxReopening of assessment - denial of natural justice - Held that:- In the present case, arguendo, the reassessments were upheld, nevertheless the ITAT, in this Court’s opinion was justified in deleting the addition. This is because the materials which the assessee had relied upon in the course of appeal to the CIT(A) did not receive any matter of scrutiny, superficial or detailed. Even for a moment, if the Revenue is correct that the information which is sourced through Investigation Wing to justify a reassessment, ipso facto that was not sufficient to conclude assessment under Section 144. The AO was granted opportunity, not merely at the stage of reassessment but also during the appellate proceedings in the remand when it was possible to verify whether the investments were genuine and whether the credits claimed were genuine given that the amounts were received through normal banking channels, in the context of the assessee’s claim that it needed funds for expansion. No question of law arises
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