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2020 (1) TMI 685 - AT - Income TaxValidity of re-opening of the assessment u/s 147 - eligible reasons to believe - HELD THAT:- Re-opening is bad in law as it is nowhere recorded in the reasons for re-opening that there was the failure on the part of the assessee truly and fully disclose material facts required for the assessment. See AMIYA SALES AND INDUSTRIES AND ANOTHER VERSUS ASSISTANT COMMISSIONER OF INCOME-TAX & OTHERS. [2004 (9) TMI 32 - CALCUTTA HIGH COURT] DR relied on case of A.G. Holdings Pvt. Ltd. [2012 (5) TMI 44 - DELHI HIGH COURT] which is not at all applicable to the facts of the case on hand wherein the proviso to Section 147 was not the subject matter as the original assessment was not done u/s 143(3) of the Act. The original return of income in that case was processed u/s 143(1) of the Act. The applicability of the proviso to Section 147 of the Act was not the subject matter of adjudication. Hence this case law does not help the Revenue. - Decided in favour of assessee.
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