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2019 (3) TMI 651 - HC - Income TaxReopening the assessment - bogus accommodation entries - AO had received information from the investigation wing of the department - Assessing Officer does not accept the objections so filed by assessee - as per assessee reasons proceeded on entirely erroneous footing - HELD THAT:- The action of the Assessing Officer to pass the final order of assessment even before the period of four weeks as envisaged by the decision of this Court in the case of Asian Paints Ltd [2007 (1) TMI 159 - BOMBAY HIGH COURT] had expired, cannot be approved. The Assessing Officer has filed an affidavit apologizing for such lapse of which we take note. The order of assessment, therefore, shall have to be set aside. While doing so, in view of the peculiar facts of the case, we permit the petitioner to file further objections to the notice of reopening of assessment. This recourse we adopt for the reason that the assessee had raised the ground of the reasons proceeding on incorrect factual premise, but the pointed objection as is elaborated before us now was not taken.
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