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2021 (8) TMI 571 - HC - Income TaxReopening of assessment u/s 147 - Denial of natural justice - HELD THAT:- Absolutely, there is no dispute regarding the proposition of law relied on by both the respective counsel regarding the judgments cited. Principles in this regard are settled and the judgments relied on by both the parties to the lis, are considered by this Court. Recording of those judgments repeatedly by this Court may not be required for the purpose of considering the facts and circumstances established in the present case on hand. The reasons furnished and disposal of reasons would play a pivotal role in arriving a decision. Considering the reasons furnished, the objections submitted by the petitioner and the disposal of the objections by the Competent Authority, this Court is of an opinion that the intricacies involved in the issues require an elaborate adjudication and admittedly, the petitioner is falling under the large tax payer unit and certain intricacies in deeper manner requires more adjudication with reference to the issues raised. Such an elaborate adjudication cannot be done with reference to the issues as the Assessee has to avail the opportunities to be provided, while proceeding with the reassessment proceedings and it is for the Assessee to participate in the reopening proceedings and avail the opportunities to be provided for the purpose of completion of reopening proceedings. This being the factum and the principles to the followed, this Court has no hesitation in arriving a conclusion that the Assessing Officer in the present case has established that he has reason to believe for reopening of assessment and there is no infirmity, as such, in reopening of the assessment u/s 147/148 - The petitioner has to cooperate for the early completion of the reopening proceedings. WP dismissed.
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