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2018 (5) TMI 1441 - HC - Income TaxReopening of assessment u/s 147 - Original Assessment was made u/s 143(3) after scrutiny - validity of notice beyond the period of 4 -years - disallowance of expenses in relation to the exempt income - Held that:- disallowance of expenditure in relation to earning tax exempt income is not valid by AO - reopening of assessment is sought to be made beyond the period of four years - also there being no element of failure of the assessee, disclosing full facts - reopening would not be permissible - Decided in favor of assessee.
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