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2018 (8) TMI 594 - AT - Income TaxReopening of an assessment - validity of notice issued u/s 148 - mechanical recording of satisfaction by the AO - reliance of the statement of the assessee which were retracted by them before the Court - Held that:- The CIT(A) has after taking due diligence has come to the conclusion that the notice issued u/s 148 is not proper and is void ab initio. The case laws relied upon by the Ld. DR are distinguishable and not applicable to the facts of the present case as there is factual difference in each case. - Decided in favor of assessee. Addition of interest on financing of money - Held that:- The CIT(A) has rightly deleted the addition on the ground that since the amount has not been financed by the assessee there is no question of making any addition of interest in this regard. - Decided against the revenue.
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