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2021 (11) TMI 538 - HC - Income TaxReopening of assessment u/s 147 - Eligibility of reasons to believe - AO jurisdiction to issue notice - HELD THAT:- In this case, as we have held that the allegation in the reasons recorded for reopening that petitioner has not disclosed all fully and truly material facts necessary for the assessment is incorrect, one of the condition for reopening the assessment before the Assessing Officer could assume jurisdiction for issuing notice under Section 148 has not been satisfied. On this ground alone, it can be concluded that the notice is issued without jurisdiction. The tangible material to initiate assessment proceedings, as stated in the reasons for reopening, is an agreement dated 6th March 2014 post the period with which the impugned notice is concerned. When the reopening for the Assessment year 2011-2012 was challenged in this Court, this Court, on identical facts, in its order [2019 (1) TMI 1146 - BOMBAY HIGH COURT] while setting aside the notice issued under Section 148, held that an agreement post the period with which the impugned notice is concerned by itself could not form the basis for the Assessing Officer to have come to a reasonable belief that income chargeable to tax has escaped assessment for the subject assessment year 2011-2012. Thus the impugned notice is quashed as being without jurisdiction. - Decided in favour of assessee.
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