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2023 (5) TMI 840 - AT - Income TaxValidity of Reopening of proceedings u/s 147/148 - notice after the expiry of four years - reasons to believe - HELD THAT:- Reasons recorded for reopening does not depicts anything regarding ‘failure of the assessee to disclose fully and truly all material facts necessary for the assessment at the time of original assessment. Also gone through the order passed u/s 147/143(3) of the Act wherein at no point of time, the A.O. found that there was a failure on the part of the assessee to disclose fully and truly all material facts necessary for his assessment at the time of original assessment. Bare reading of reasons recorded for reopening for the Assessment Year 2012-13 and also the reassessment order at no point of time the A.O alleged that there was a failure on the part of the assessee to disclose fully and truly material facts necessary for his assessment at the time of original assessment. Thus, in our opinion, the proceedings initiated u/s 147/148 is amounts to making of roving enquiries of the settled matter which has already became final in the original assessment after due verification and examination. Decided in favour of assessee.
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