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2021 (7) TMI 349 - HC - Income TaxReopening of assessment u/s 147 - violation of the principle of natural justice - HELD THAT:- Non-supply of the copy of Mr. Banka’s statement (which incidentally has been extracted in full in the reasons for reopening), or not providing an opportunity to cross-examine Mr. Banka at the stage of objections vitiates the reopening of the assessment. Such opportunity would be provided, if sought by the Petitioner, and if so permitted in law, in the reassessment proceedings. This Court is not satisfied that the Petitioner has made out any case for interference by the Court at the present stage, i.e. the stage of issuance of the notice for reopening of the assessment under Section 147 of the Act. While reserving the right of the Petitioner to raise all the defences available to it in accordance with law in the reassessment proceedings, including the right to cross-examine the deponents of the statements relied upon by the Department in the reassessment proceedings, the Court declines to interfere in the matter.
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