Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (11) TMI 305 - ITAT HYDERABADReopening of assessment u/s 147 - Change of opinion or tangible documents - Held that:- The AO cannot reopen the assessment by re-appreciating or re-appraising the same set of facts and materials which were considered at the time of original assessment. If the AO while completing the original assessment proceedings has considered the agreement between the assessee and M/s Suresh Productions with regard to the assignment of rights of the film "Nee Premakai" and has completed the assessment after considering the same, the same material cannot form the basis for reopening the assessment as it will amount to change of opinion - Following decision of CIT vs. Usha International Limited [2012 (9) TMI 767 - DELHI HIGH COURT] and CIT Vs. Kelvinator India Ltd. [2010 (1) TMI 11 - SUPREME COURT OF INDIA], matter remanded back to CIT(A) for re-examination of the facts and issues.
|