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2017 (5) TMI 429 - HC - Income TaxReopening of assessment - reasons to believe - Held that:- There is no finding or the reason recorded by the Assessing Authority that the petitioner had failed to disclose fully and truly all material facts, which were necessary for the assessment. The petitioner admittedly had submitted the complete details of the lease rent paid to the Greater NOIDA Industrial Development Authority during the financial year and that he had not deducted any tax at source. No material in this regard was suppressed by the petitioner and at the same time, no incorrect disclosure in that regard was made by it. The above disclosure was well within the knowledge of the Assessing Officer during the regular assessment proceedings. In view of the above, the second condition as laid down in the proviso to Section 147 of the Act regarding non disclosure of full and true particulars necessary for assessment was not satisfied for issuing the notice under Section 148 of the Act after the expiry of four years from the end of the relevant assessment year. - Decided in favour of assessee.
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