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Validity of Reopening Tax Assessment After Third-Party Search and 10-Year Limitation Period Examined.
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....Validity of Reopening of assessment u/s 147 - applicability of period of limitation of 10 years - Relevant date for conducting search or survey - The search is conducted and against the 3rd person whose documents have been seized which goes to show that the information and the documents forms an asset and beyond 50 Lakh. Further the records suggest that investigating team has also alleged about the entries in the Books of Account. - Contentions of assessee rejected - HC....