Assessment Reopening u/s 147 Invalid Due to Incorrect Reasons and Lack of Verification by Assessing Officer.

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....Reopening of assessment u/s 147 - A.O. has recorded incorrect, wrong and non-existing reasons for reopening of the assessment and also failed to verify the information received by him before recording the reasons for reopening of the assessment. Thus, there was clearly non-application of mind on the part of the A.O. to initiate the re-assessment proceedings. - AT....