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2018 (5) TMI 1691 - AT - Income TaxReopening of the assessment u/s 147 - suppression of sales - Held that:- Entire sale transaction cannot be taken as income - judgment of Hon’ble Gujarat High Court in the case of Asian Tiles Ltd. [2015 (7) TMI 1281 - GUJARAT HIGH COURT] is squarely applicable to the case on hand - respondent could not have issued impugned notice to the petitioner subject to suppressed sale transaction to income - thus the notice is inherently illegal and invalid - hence assessment order u/s 147 is quashed - Decided in favor of assessee.
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