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2020 (12) TMI 255 - AT - Income TaxReopening of assessment u/s 147 - Borrowed satisfaction - long term capital gain addition - proceedings on the basis of borrowed information only without there being any reason to believe based on tangible material that the tax payer's income liable to be assessed had escaped assessment - HELD THAT:- No merit in the Revenue's stand that the Assessing Officer had rightly set section 148/148 machinery in motion against this tax payer. We afforded ample opportunities to the departmental representative to place on record all necessary details indicating the assessee's Assessing Officer to have independently verified all the documents coming from Merrut. No such records forms part of the case file to this effect. We notice in this factual backdrop that the impugned reopening is not based on any independent application of mind at the assessee's Assessing Officer's end. Reopening forming subject matter of our consideration in the instant case is not sustainable in law in absence of the Assessing Officer's having made his independent enquiry or due application of mind. The same stands quashed therefore. - Decided in favour of assessee.
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