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2021 (1) TMI 1018 - AT - Income TaxReopening of assessment u/s 147 - assessment of the assessee was reopened after the expiry of 4 years - HELD THAT:- In the instant case all the material fact has already been disclosed by assessee. Moreover, after the issuance of notice dated 30.12.2012, the assessee has furnished the reply also and after the satisfaction the matter of controversy has been decided. Since the assessee was not failure to for the disclosure of all the material facts necessary for assessment, therefore, the reopening is also bad in view of the decision in the case of (i) Phool Chand Bajrang Lal Vs. ITO [1993 (7) TMI 1 - SUPREME COURT](ii) ALA Firm Vs. CIT [1991 (2) TMI 1 - SUPREME COURT](iii) Indian and Eastern Newspaper Society Vs. CIT [1979 (8) TMI 1 - SUPREME COURT] & ITO Vs. Lakhmani Mewal Das[1976 (3) TMI 1 - SUPREME COURT] . On appraisal of the above said finding, it is apparent that the assessment could only be reopened on account of disclosure of new matter of knowledge of fresh facts which were not present at the time of original assessment. It may constitute reason to believe that the income of escaped assessment within the meaning of Section 147 We are of the view that the notice u/s. 147/148 of the Act is wrong against law and facts, hence, is hereby ordered to be set aside. Accordingly, we decide these issues in favour of the assessee
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