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2008 (1) TMI 127 - HC - Income TaxReassessment notice based on the statement of third party that impugned entries were only hawala entries – documentary evidence indicates the existence of the loan and the payment of interest after deduction of TDS – third person expired after retracting the statement – assessment cannot bee reopened on basis of statement of third person who has been expired - there is no sufficient reason for reopening the assessment, so notice is invalid
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