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2023 (2) TMI 1122 - BOMBAY HIGH COURTReopening of assessment u/s 147 - Reason to believe - expenditure incurred on “Colour Idea Stores" - HELD THAT:- As during the scrutiny assessment, the AO had sought from the petitioner the relevant details with regard to the advertisement and sales promotion expenses which details were furnished by the petitioner vide its response dated 17th October 2016. It can also be seen that the AO had disallowed some of the expenses which had been reflected in the break-up under the head “details of advertisement and sales promotion expenses” while passing the final order of assessment, which reflects that the AO had applied its mind to the appellant’s claim while passing the order under section 143(3) of the Act. The reasons do not disclose as to what material or fact was not disclosed by the assessee. It, therefore, clear that there was, in fact, a complete disclosure of all the primary material facts on the part of the petitioner and it cannot be said that there was any failure on the part of the petitioner to disclose fully and truly facts which were material and necessary for assessment. Thus notice impugned does not satisfy the jurisdictional requirement of section 147 - Decided in favour of assessee.
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