147 r.w.s.144B of the Income\ntax Act, 1961. Meaning thereby that the reason for which reassessment\nproceedings were taken up did not subsist any more as the AO was satisfied about\nthe matter which prompted him to initiate reassessment proceedings. Thereafter the\nld. PCIT 1, Jaipur had issued a show cause notice dated 13.02.2024 fixing the\ndate of hearing