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2016 (12) TMI 1011 - ITAT DELHIValidity of reopening of assessment - foundation of AO’s belief is the information received from Investigation wing of the department - Held that:- AO has not applied his mind to any tangible material in his possession before issuing notice u/s. 148, in absence of which the reopening of assessment cannot be accepted in the eyes of law, as laid down by Hon’ble Jurisdictional High Court as well as Tribunal in plenty of cases. Therefore, forming of belief of escapement and consequently reopening of assessment on the basis of mere information received by AO from Investigation wing is not tenable. See PR. Commissioner of Income Tax-4 Versus G & G Pharma India Ltd. [2015 (10) TMI 754 - DELHI HIGH COURT] - Decided in favour of assessee
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