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2021 (12) TMI 316 - HC - Income TaxReopening of assessment u/s 147 - eligibility of deduction under Section 80HH/HHA/IA - HELD THAT:- The proviso of Section 147 of the Act shall therefore apply. Under Section 147 of the Act the assessment under Sub Section (3) of Section 143 can be reopened after a period of four years only if the assessee has failed to disclose fully and truly all material facts necessary for his assessment in that Assessment Year. The reasons as quoted above does not indicate initially what was the material fact that has not been disclosed fully and truly by petitioner. Therefore, on this ground alone, notice dated 30th March, 2004 has to be set aside. In the assessment order dated 30th January, 2004 the deduction claimed by petitioner have been disallowed and therefore question of any income escaping assessment also will not arise. Therefore, on the date when the impugned notice dated 30th March, 2004 was issued the Assessing Officer could not have any reason to believe that income chargeable to tax has escaped assessment u/s 148 of the Act. As noted earlier in the block assessment order dated 30th January, 2004 the deduction claimed under Section 80I, 80 HA and 80 IA of the Act had been disallowed.
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