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2021 (2) TMI 850 - AT - Income TaxReopening of assessment u/s 147 - A.O. received information from Investigation Wing - whether incorrect, wrong and non-existing reasons are recorded by the A.O. for reopening of the assessment? - HELD THAT:- Section 147(b) does not exist in the Statute for the assessment year under appeal i.e., 2010-2011. It is also a fact that assessee did not maintain any such Bank Account with Mahamegha Urban Cooperative Bank, Ghaziabad. It is also a fact that no amount of ₹ 1.37 crores alleged to have been escaped assessment belonging to the assessee. The A.O, therefore, recorded wrong, incorrect and non-existing reasons in the reasons for reopening of the assessment. Thus, the reopening of the assessment have been done without application of mind and liable to be quashed. Same view have been taken by ITAT, Delhi E-Bench, Delhi in the case of Shri Natarajan Monie, Gurgaon vs., ITO, Ward-2(5) [2020 (12) TMI 345 - ITAT DELHI] after following several decisions of different High Courts and quashed the reopening of the assessment in the matter. - Decided in favour of assessee.
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