No reassessment if disputed transaction was already considered in block assessment as well in sec. 263 revision: HC

INCOME TAX : Where assessee fully disclosed all material facts related to purchase and lease back transactions of machineries and block assessment order holding depreciation claimed on said machineries as undisclosed income was quashed after considering genuinity of said transactions, there being no fresh tangible material available with Assessing Officer, notice under section 148 could not be issued to examine genuinity of very same lease transactions

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