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Can an income tax reassessment notice issued after four years survive challenge on reason to believe?
Chetan Sabharwal vs. Assistant Commissioner of Income Tax Circle 28(1), New Delhi
The Supreme Court dismissed the appeals and held that the reassessment notice dated 31.03.2015 was valid, as the Investigation Unit's report constituted tangible material with a live link to the belief that income had escaped assessment, and no case of change of opinion was made out.
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