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2018 (4) TMI 10 - AT - Income TaxValidity of reopening of assessment - bogus purchases - Held that:- In identical issue was examined by the AO during the scrutiny assessment for the A.Y. 2003-04 in reassessment proceeding and consequently the initiation of proceeding for the reassessment for the year under consideration was initiated by the AO and in view of the decision in case of Multiscreen Media P. Ltd. vs. Union of India (2010 (2) TMI 269 - BOMBAY HIGH COURT). No error or illegality in the reopening of the assessment under consideration. The decisions relied upon by the ld. AR are not applicable in the facts of the present case because at the time of issuing notice u/s 148 of the Act the AO had already conducted any enquiry about the genuineness of the purchases made from M/s Ambica Traders. Addition u/s 69C - Held that:- Since, the assessee is seeking the directions to the AO for proper examination of additional evidence therefore, in the facts and circumstances of the case and in the interest of justice the matter on merits is remanded to the record of the Assessing Officer for denovo adjudication after consideration of evidence filed by the assessee.
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