AO Justifies Reopening Assessment u/s 147 with New Tangible Evidence, Fulfilling All Necessary Conditions for Reassessment.

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....Reopening of assessment u/s 147 - The application of mind by the AO to the new and tangible material has to be discerned from the reasons recorded in each case and from the perusal of the reasons recorded for reopening the assessment in the present case, we are of the considered view that all the aforesaid conditions are fulfilled and the AO has rightly initiated the reassessment proceedings under section 147 - AT....