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Reassessment u/s 147 Invalid: No Tangible Evidence Linking Belief of Escaped Income to Assessee Found.
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....Reopening of assessment u/s.147 - there is absolutely no tangible material available with the ld. AO having live link to form a belief that income of the assessee had escaped assessment. Hence, reopening of the assessment fails on this count itself. - AT....
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TaxTMI