Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2008 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (7) TMI 954 - RAJASTHAN HIGH COURTInitiation of reopening proceedings u/s 148 - mere change of opinion - income has escaped assessment - Whether the original assessment made in AY 1991-92, u/s. 143(1)(a), could resort to proceedings u/s. 147 be termed as based on mere change of opinion? - HELD THAT:- The judgment rendered in Phool Chand Bajrang Lal's case [1993 (7) TMI 1 - SUPREME COURT] it was held, that sufficiency of reasons for forming the belief is not for the Court to judge. Here, No subsequent information, or material have come to the notice of the AO, to enable him to form a requisite belief, that any particular income has escaped assessment, which was liable to be assessed. we again pointedly asked the learned counsel for the Revenue to point out, as to how these findings are wrong, and to show even to us, if there is any material, which might have come to the notice of the AO subsequently, but the learned counsel for the Revenue could not point out any one. That being the position, in our view, it was rightly found by the learned CIT(A), and the learned Tribunal, that it was merely a change of opinion on the part of the learned AO, about admissibility of claim of depreciation on tractors, and in view of the judgment of Hon'ble the Supreme Court, in CIT vs. Bhanji Lavji's case [1971 (1) TMI 6 - SUPREME COURT], the AO could not initiate reassessment proceedings. Therefore question No. 1 is answered against the Revenue, and it is held, that the resort to proceedings u/s. 147, was outcome of mere change of opinion. So far as question No. 2 is concerned, in our view it does not arise in the present case. Thus, we do not find any force in the appeal, and the same is, therefore, dismissed.
|