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2022 (8) TMI 524 - AT - Income TaxReopening of assessment u/s 147 - assessment was reopened beyond four years from the end of the relevant assessment year - Eligibility of reasons to believe - HELD THAT:- As the assessment order passed under section 143(3) r.w.s. 153B(1)(b) r.w.s. 147 of the Act, which was solely based on third party information and not subjected to any further scrutiny, respectfully following the decision in the case of CIT v. Odeon Builders Pvt. Ltd. [2014 (9) TMI 100 - ITAT DELHI] the reassessment order passed by the Assessing Officer is quashed. Moreover, on the second count, in the reasons recorded, since there was no finding of the AO that there was a failure on the part of the assessee in disclosing fully and truly the material facts for assessment, the reassessment order passed by the AO is also bad in law and the same is quashed. On identical facts, similar assessment order passed under section 143(3) r.w.s. 147 for the assessment year 2012-13 is also quashed. Since we have quashed the reassessment order for both the assessment years, no separate findings are being given on another ground raised by the assessee on merits. Appeal of assessee allowed.
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