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2014 (7) TMI 378 - AT - Income TaxValidity of reopening of u/s 147 of the Act – Change of opinion – Reassessment initiated on the basis of audit objection - Held that:- The decision in CIT Vs. SPL’s Siddhartha Ltd. [2011 (9) TMI 640 - DELHI HIGH COURT] followed – u/s 151 of the Act, it was only the JCIT who could grant the approval for issue of notice u/s 148 - The approval was not granted by the Joint Commissioner - the legislature has provided that where the AO is of the rank of AC or DC and original assessment was completed under Section 143(3), the notice for reopening of assessment cannot be issued unless the JCIT is satisfied on the reasons recorded by the AO - as per Section 151(1), the approval of JC was required while the AO has taken the approval of CIT which cannot be said to be valid in view of the specific provisions of Section 151(1) – thus, reopening of assessment u/s 148 was invalid and the order of the CIT(A) is upheld – Decided against Revenue.
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