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2018 (10) TMI 1297 - AT - Income TaxReopening of assessment - addition u/s 68 - reopening after 4 years - Held that:- AO himself recorded in the order that the approval of the Additional CIT Range-V, New Delhi was obtained and stated that it was so u/s 151(2) of the Act. As a matter of fact in respect of the cases where notice u/s 148 was proposed to be issued after the expiry of four years from the end of the relevant assessment year, Section 151(1) is applicable but not Section 151(2) of the Act. Section 151(2) clearly states that it is applicable to the cases other than the cases falling under sub-section (1). A plain reading of Section 151 makes it amply clear that the learned AO misread the same and did not follow the mandate of the proviso to Section 151(1) of the Act inasmuch as the case in hand relates to the proposed notice u/s 148 after the expiry of four years from the end of the relevant assessment year. On this ground, assessee succeeds. It is not the case of the revenue that any evidence is there on record to establish that any notice u/s 143(2) was issued before the conclusion of the assessment after its reopening, nor did the learned AO record finding that because of the failure of the assessee to furnish fully and truly all material facts necessary for the assessment, there was escapement of income from assessment. In these circumstances, we find it difficult to hold that the impugned order suffers any illegality or irregularity warranting interference by the Tribunal. The reasons recorded by the learned CIT(A) are perfect and there is no ground for us to interfere with the same. - Decided against revenue.
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