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2018 (2) TMI 1640 - AT - Income TaxReopening of assessment - Non independent application of mind by AO - Held that:- Unearthing of tangible/incriminating material against the assessee after completion of assessment u/s 143 (3) or after issuance of intimation u/s 143 (1) is sine qua non for issuance of the notice u/s 148 of the Act. In the instant case, the entire exercise of recording of reasons and issuance of notice u/s 148 is based upon the report received by the AO from Directorate of Income-tax (Inv.), hence the assessment in this case is not sustainable and is liable to be quashed. So, without going into the merits of the sustainability of the addition made by the AO, we hereby quash the assessment proceedings made by the AO and affirmed by the ld. CIT (A) and thereby allow the appeal filed by the assessee company.
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