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2022 (9) TMI 814 - AT - Income TaxValidity of reopening of assessment u/s.147 - Eligibility of reasons to believe - Manadation of application of mind in pursuant to reasons recorded for reopening of assessment - Whether reasons recorded by AO does not show any light on quantification of escapement of income and also failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment? - HELD THAT:- In this case, on perusal of form of initiation of proceedings u/s.147 of the Act, and for granting approval of the Commissioner of Income Tax for issuance of notice u/s.148 of the Act, it is abundantly clear that the Assessing Officer has recorded reasons for reopening of assessment without there being any allegation on the part of the assessee to disclose fully and truly all material facts necessary for that assessment year and said reasons had been mechanically approved by the Commissioner of Income Tax, Salem, by stating that “Yes, I am satisfied”. Therefore, we are of the considered view that notice issued u/s.148 in pursuant to reasons recorded for reopening of assessment dated 18.03.2013 and consequent approval granted by the CIT, Salem is without any application of mind and thus, reopening of assessment on the basis of said approval is bad in law and liable to be quashed. Hence, we quash notice issued u/s.148 of the Income Tax Act, 1961 and consequent reassessment proceedings completed u/s.143(3) r.w.s 147 of the Act. - Decided in favour of assessee.
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