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2021 (4) TMI 56 - AT - Income TaxReopening of assessment u/s 147 - Notice after a period of 4 years from the end of the assessment year - eligible reasons to believe - HELD THAT:- From the replies furnished by assessee during the original assessment proceedings placed in the paper book relied by the Ld.AR, against queries raised by the Ld.AO, we are satisfied that assessee had filed submissions in respect of the issues considered for reopening the assessment. The reasons recorded reproduced hereinabove suggests that there was no failure on behalf of assessee to fully and truly disclose all material facts necessary for assessment, which is a necessary condition for reopening an assessment beyond a period of 4 years as stipulated under the act. The reasons recorded also reveal that, there has been no new material available with the Ld.AO which could justify the reopening of a concluded assessment beyond a period of 4 years. Respectfully following the ratio laid downin case of Hon’ble Supreme Court in case of CIT vs Kelvinator India Ltd. [2010 (1) TMI 11 - SUPREME COURT] we set aside and quash the notice dated 17/05/2016 seeking to reopen concluded assessment to be bad in law. - Decided in favour of assessee.
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