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2017 (3) TMI 1052 - AT - Income TaxValidity of reopening of assessment - Held that:- The reopening was done on the basis of Investigation Wing. As decided in case of Signature Hotels (P) Ltd. Versus Income Tax Officer and Anr. [2011 (7) TMI 361 - Delhi High Court] a notice under section 148 can be quashed if the "belief" is not bonafide, or one based on vague, irrelevant and non-specific information. The basis of the belief should be discernible from the material on record, which was available with the Assessing Officer, when he recorded the reason. There should be a link between the reasons and the evidence/material available with the Assessing Officer. The "reasons to believe” would mean cause or justification of the Assessing Officer to believe that the income has escaped assessment and not that the Assessing Officer should have finally ascertained the fact by legal evidence or reached a conclusion, as is determined and decided in the assessment order, which is the final stage before the Assessing Officer. - Decided in favour of assessee.
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