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2017 (5) TMI 1163 - DELHI HIGH COURTReopening of assessment - claim of deduction under Section 80 IC of a sum inclusive of the interest income earned by the Assessee - reasons to believe - Held that:- In the present case the reasons for reopening do not enable a reader to ascertain in what manner the Assessee failed, when the original assessment took place, to make a full and true disclosure of material facts relevant to the assessment. On the contrary a reading of the original assessment order dated 31st March, 2011 reveals that this aspect of deduction being claimed under Section 80 IC was examined by the AO and allowed only after verifying the certificate and other documents in support of such claim. The reasons for reopening the assessment do not satisfy the jurisdictional pre-condition mandated by the first proviso to Section 147 of the Act, viz., to indicate clearly the failure on the part of the Assessee to disclose fully and truly all material facts necessary for the purposes of the assessment for AY 2009-10, the reopening cannot be sustained in law. - Decided in favour of assessee.
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