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2017 (8) TMI 955 - AT - Income TaxReopening of assessment - Non recording of reasons and furnishing of reasons to the assessee - failure to furnish reasons recorded - Held that:- There is no proof of the reasons having been furnished to the assessee. Quite clearly the assessee in the present case had sought for the reasons recorded and there is no material on record to say that the same have been furnished to him before completion of assessment. Therefore, following the judgment of the Hon'ble Bombay High Court in Trend Electronics [2015 (9) TMI 1119 - BOMBAY HIGH COURT] the impugned assessment is held to be bad in law. In so far as the plea of the Ld. Departmental Representative based on the provisions of section 292BB of the Act is concerned, the same in my view, is of no consequence as it is inserted by the Finance Act, 2008 w.e.f 01/04/2008 and is, therefore, prospective in operation, and is thus, not applicable for the instant proceedings.- Decided in favour of assessee.
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