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2021 (7) TMI 1003 - AT - Income TaxRevision u/s 263 - Framing the assessment u/s. 143(3) - addition on account of RA Bill receipts - HELD THAT:- As perused the observation in the case of CIT vs. Nirma Corporation Ltd. [2008 (2) TMI 373 - GUJARAT HIGH COURT] held that wherein AO adopted one view, merely because commissioner took a different view of matter, it would not be sufficient to permit commissioner to exercise power u/s. 263 unless the view taken by the Assessing Officer is unsustainable in law. As demonstrated from the detailed submission made by the assessee in the form of revised return of income, reply in respect of notice u/s. 142(1) of the act and other correspondence made during the course of assessment proceedings as elaborated above in this order that no tangible material has come in possession of the AO after framing the assessment u/s. 143(3) - On the other hand, the reopening has been made merely on the basis of material available on record which has been considered by the Assessing Officer at the original assessment stage. After considering the judicial pronouncements referred by the ld. counsel and the material on record, we are of the view that reopening made in the case of the assessee in the absence of tangible material after framing assessment u/s. 143(3) of the Act is not justified as per law therefore we quash the assessment holding that the action of the AO of reopening was without jurisdiction.- Decided in favour of assessee.
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