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2009 (12) TMI 214 - HC - Income TaxReassessment- Notice- The Assessing Officer collected information from the hospitals and on the basis of these information he estimated the income by applying the minimum rate charged for each surgery and made assessment under section 147 of the Income Tax Act, 1961. The Commissioner (Appeals) held the reassessment barred by limitation as the Assessing officer had no materials to reopen the assessment. Tribunal affirmed this. Held that- allowing the appeal, as the Assistant Officer prior to the issuance of notice u/s 147, conducted inquiry in the hospitals about the payments made to the assessee and got full information about the number of surgeries attended by the assessee. He therefore, reopened the assessment under section 147 and issued revised assessment. The finding of the lower authorities was wrong. Therefore, the reopening of assessment was valid and within time.
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