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2018 (4) TMI 392 - AT - Income TaxReopening of assessment u/s 147 - addition u/s 68 - Held that:- AO was not vested with blanket powers and debarred from making fishing and roving inquiries. Further, observed that a fresh notice u/s 148 with respect to new items would be required, which is missing in the present case. AO was not right in assuming jurisdiction with respect to independent and unconnected items without any tangible material or information suggesting escapement of income which was the basic requirement of Section 147. Hence, impugned additions u/s 68 could not survive. - Decided in favour of assessee
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