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2020 (12) TMI 459 - AT - Income TaxValidity of reopening of assessment - Eligibility of reasons to believe - reliance on same set of facts - Whether no new tangible material that had come to the possession of the Assessing Officer on the basis of which the assessment was re-opened? - HELD THAT:- A perusal of the reasons recorded by the Assessing Officer also clearly shows that the assessment was re-opened by him on the basis of same set of facts and the material which was available on record and there was no new tangible material that had come to his possession which formed the basis of re-opening. Even the Ld. D.R. has not been able to dispute this possession which is clearly evident from the reasons recorded by the Assessing Officer. He has also not been able to point out any such fresh tangible material that had come to the possession of the Assessing Officer which formed the basis of reopening. CIT(A) was fully justified in holding the re-assessment proceedings to be invalid by relying on the said decision Sandvik System Development [2017 (12) TMI 571 - ITAT PUNE] since there was no fresh tangible material which had come to the possession of the Assessing Officer and which formed the basis of reopening. Therefore uphold the impugned order of the Ld. CIT(A) on this issue and dismiss this appeal filed by the Revenue.
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