Assessment Reopening u/s 147 Challenged: Lack of Evidence on Alleged Clandestine Clearance and Suppressed Sales.

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....Reopening of assessment u/s 147 - clandestine clearance/ suppressed sale - Excise Department though alleged huge clandestine clearance of goods yet not an iota of evidence to prove procurement of huge quantities of raw materials has been placed on record, though the list of raw material suppliers was with the investigation. Without showing receipt of the raw material clandestinely, manufacture of such huge quantities of excisable goods and clandestine clearance thereof is impossible. Therefore, consequent suppressed sale and again undeclared income there from, is too remote even to be suspected. - AO had merely borrowed satisfaction in respect of escapement from someone else, which is not sufficient to reopen the case - AT....