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2017 (9) TMI 851 - HC - Income TaxReopening of assessment - proof of failure on the part of the Assessee ‘to disclose fully and truly all material facts necessary for the assessment' - Held that:- Nothing prevented the AO from undertaking a detailed inquiry into the list of creditors provided by the Assessee in response to the questionnaire. It is not for the Assessee to suggest to the AO how he should conduct the inquiry. There was no failure by the Assessee to fully and truly disclose all material facts necessary for the assessment. Since the pre-requisites for assumption of jurisdiction under Section 147 of the Act were not fulfilled, the Court has no hesitation in quashing the impugned notice dated 30th March 2016 issued to the Petitioner by the AO under Section 148 (1) of the Act and all proceedings consequent thereto. - Decided in favour of assessee.
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