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2019 (8) TMI 995 - HC - Income TaxDropping of re-assessment proceedings - grievance of the petitioner that once the Assessing Officer has issued a notice for reassessment under Section 147/148 and the assessee has not opposed the same, then it is not open to the Assessing Officer to drop the same - HELD THAT:- It is an agreed position between the parties that the issue raised herein stands concluded by the decision of this Court in case of K. Sudhakar S. Shanbhag Vs. Income Tax Officer [1999 (8) TMI 36 - BOMBAY HIGH COURT] in favour of the respondent. In the above case, this Court has held that dropping of re-assessment proceedings by the Assessing Officer under Section 147 of the Act, even in the absence of the assessee challenges the notice under Section 147/148 of the act, is justified. This Court emphasized that the proceedings for reassessment under Section 147 of the Act is for the benefit of the Revenue. - Decided in favour of revenue
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