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2018 (2) TMI 186 - HC - Income TaxReopening of assessment - reasons to believe - submission made on behalf of the Revenue that there was a mistake in the reasons recorded - Held that:- A reopening notice under Section 148 of the Act seeks to reopen settled issues between the State and the Assessee with regard to the income tax dues of the Assessee. The basis of jurisdiction to reopen an Assessment is reason to believe of the Assessing Officer that income chargeable to tax has escaped Assessment. This should be evident in the reasons recorded by him. These reasons which forms the basis must be strictly read. It is not open to either improve upon or change the reasons recorded. The reasons for reopening notice under Section 148 of the Act for reopening notice as recorded at the time of issuing the reopening notice under Section 148 of the Act must be clear and have to be read strictly. Therefore, the submission made on behalf of the Revenue that these was a mistake in the reasons recorded and an attempt to substitute the reasons being made orally by the Revenue, cannot be accepted. Moreover, we find that the reasons as recorded do not indicate any reasons to believe that income chargeable to tax has escaped assessment. It is more in the nature of seeking to find out after reopening the Assessment whether there are reasons to believe that income chargeable to tax has escaped Assessment or not - Decided in favour of assessee
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