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2019 (3) TMI 132 - HC - Income TaxReopening of assessment - reopening of tantamount to fishing or roving inquiry - reopening of assessment beyond four years - HELD THAT:- AO during the scrutiny for assessment year 2012.13 had not raised any query on this aspect and had not verified the same during the assessment. In that view of the matter, he was of the opinion that the issue requires verification; which would tantamount to fishing or roving inquiry. His reference to the subsequent assessment, in absence of any additional material outside of the present assessment proceedings would not form a valid source of information permitting him to reopen assessment. If during the assessment of the later assessment year, the AO collects or chances upon new material which may have bearing on the assessment of the assessee, and in case where the assessment is sought to be reopened beyond four years, he can also establish lack of true and full disclosures on the part of the assessee, it may be open for him to reopen assessment of the earlier year. Merely because in the later year, the AO takes a different view on the basis of similar material, which may have been collected during such process, would not permit him to reopen the assessment. Under these circumstances, the AO's reference to further exercise undertaken while carrying out scrutiny assessment for the assessment year 2014-15 during which he decided to tax the assessee at higher rate would not enable the AO in the present case to reopen the assessment beyond four years. - Decided in favour of assessee.
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