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2021 (2) TMI 602 - AT - Income TaxReopening of assessment - Validity of reasons to be believe - material difference between the reasons extracted in the assessment order and the reasons recorded for reopening the assessment found in the assessment record - HELD THAT:- On perusal of the assessment records, we found that the reasons of reopening of assessment are materially different from the reasons extracted in the assessment order. In our considered view, when an assessment is reopened and reassessment order is framed, the entire quarrel revolves around the reasons recorded for reopening the assessment. Since, there is difference in the reasons recorded for reopening the assessment as found in the assessment records from the reasons extracted in the assessment order, neither the assessee could defend its case properly nor the appellate authorities can adjudicate the matter. In the in the interest of the justice and fair play, we restore this issue to the files of the AO. The AO is directed to frame the assessment as per reasons recorded for reopening the assessment and supply the copy of the same reasons to the assessee, so that the assessee can defend itself. Legal grounds raised by the assessee are allowed for statistical purposes. Addition u/s 68 - We find that the appellant has furnished plethora of evidences which have not been considered by the AO. We find that there is not even a whisper of the evidences filed by the assessee during the course of the reassessment proceedings, neither in the assessment order nor in the order of the First Appellate Authority. Therefore, again in the interest of justice and fair play we restore this issue to the files of the AO. AO is directed to examine and verify all the documentary evidences furnished by the assessee. Ground allowed for statistical purposes.
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