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2021 (4) TMI 723 - ITAT MUMBAIValidity of reopening of assessment u/s 147 - eligibility of reasons to believe - reopening notice was admittedly issued beyond 4 years but within 6 years from the end of the relevant assessment year - HELD THAT:- From the reasons recorded it could be seen that there is absolutely no mention of any failure on the part of the assessee in disclosing fully and truly all material facts necessary for the assessment during the original assessment proceedings. Admittedly the original assessment proceedings were completed u/s 143(3) of the Act on 26.11.2009. We find that the law is now very well settled that the reasons recorded by the ld AO for reopening the assessment should duly mention the failure, if any, on the part of the assessee in disclosing full and true information relevant for the assessment if the reopening is made beyond 4 years from the end of the relevant assessment year; and that the reasons recorded cannot be substituted at a later point in time by subsequent evidences by the ld AO and that the reasons recorded should speak by itself and duly express the clear mind of the ld AO which enabled him to frame an opinion that income of the assessee had escaped assessment within the meaning of section 147. As relying on HINDUSTAN LEVER LTD. [2004 (2) TMI 41 - BOMBAY HIGH COURT] we have no hesitation in holding that the reopening of assessment made for the Asst Year 2007-08 is to be declared void abinitio and is hereby quashed. - Decided in favour of assessee.
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