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2018 (12) TMI 1496 - AT - Income TaxReopening of assessment u/s 147 - issue a notice once again when the first reassessment proceeding was pending - Held that:- In this case, the Assessing Officer passed reassessment order on 31.03.2013 and again issued notice on the very same day. No fresh material came to the possession of the Assessing Officer on the day on which the first reassessment order was passed. As held in TANMAC India v. DCIT (2017 (1) TMI 122 - MADRAS HIGH COURT) Section 147 is not for extending time limit for completing assessment. This Tribunal is of the considered opinion that reopening of assessment for second time on the day on which the first reassessment was completed on 31.03.2015 is bad in law. Even if there was escapement of income, this Tribunal is of the considered opinion that the AO ought to have brought to taxation on the basis of notice issued on 03.10.2013 under Section 148. Therefore, reopening of assessment by issuing another notice on 31.03.2015 is not justified. - Decided in favour of assessee.
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