TMI Blog2020 (1) TMI 730X X X X Extracts X X X X X X X X Extracts X X X X ..... g contrary is demonstrated as to why this finding is incorrect, the questions of law proposed do not give rise to any substantial question of law. - INCOME TAX APPEAL NO.1361 OF 2017 - - - Dated:- 6-1-2020 - NITIN JAMDAR M.S.KARNIK, JJ. Mr. Suresh Kumar for appellant. Mr. Jehangir Mistri, Senior Counsel a/w. Mr. Atul K. Jasani for respondent. P.C.:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under the facts and circumstances of the case, when there is no discussion in the assessment order on the issue of sundry creditors and when there is no finding positive or negative in the original assessment order on this issue, whether Hon ble Income Tax Appellate Tribunal was justified in not appreciating that there is no change of opinion and in denying the applicability of decision in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll material facts at relevant places during original assessment proceedings u/s. 143(3) of the Act. The AO himself asked for specific questions and full details were supplied by the assessee. AO examined these documents and framed the assessment only after proper application of mind. There was no failure on the part of the assessee to fully and truly disclose all the material facts. Thus, reassess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er. Hence, after 1st April, 1989, the Assessing Officer has power to reopen, provided there is tangible material to come to be conclusion that there is escapement of income from assessment. Reasons must have a live link with the formation of the belief. Further, the Hon ble apex Court in the case of CIT vs. Foramer France (2003) 264 ITR 566 (SC) has clearly laid down the principle ..... X X X X Extracts X X X X X X X X Extracts X X X X
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