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2021 (5) TMI 96 - AT - Income TaxReopening of assessment u/s 147 - addition u/s 68 - HELD THAT:- It is well settled law that validity of the reassessment proceedings is to be judged with reference to the reasons recorded for reopening of the assessment which is reproduced above. Assessee in the case of M/s Neelkanth Plywood Pvt. Ltd. [2019 (9) TMI 256 - ITAT DELHI] has produced on record the identical worded reasons recorded by the same AO Sh. Virender Singh, ITO, Ward-18(1), New Delhi for reopening of the assessment, copy of the same is produced on record. In the case of M/s Neelkanth Plywood Pvt. Ltd. (supra) the Tribunal considering the issue in detail vide order dated 21.08.2019 reproduced above has quashed the reopening of the assessment. Since the facts of the case of the assessee are identical with the facts of the case of M/s Neelkanth Plywood Pvt. Ltd. (supra). Thus following the same we set aside and quash the reopening of the assessment u/s 147 - Decided in favour of assessee.
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