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2017 (12) TMI 1131 - HC - Income TaxReopening of assessment - reasons to believe - claim for unabsorbed depreciation - Held that:- The decision of this Court in the case of the assessee for the Assessment Year 2004-05 [2010 (3) TMI 164 - BOMBAY HIGH COURT] holds that a mere change of opinion would not justify the Assessing Officer in seeking a recourse to the powers under Sections 147 and 148 unless there is tangible material before the Assessing Officer to prove that income chargeable to tax has escaped assessment. This Court further held, while allowing the petition, during the course of the assessment proceedings, that the Assessing Officer brought his mind to bear upon the questions involved and there was absence of tangible material on the basis of which assessment could have been reopened. In the present case the very same assessment year was under consideration whereas this Court has already taken a view in the aforesaid assessee's case. There was no warrant for issue of further notice. It is evident that this has occasioned only as a change of opinion and an afterthought and in any event, the reopening sought to be effected is beyond the period of 4 years. In CIT v/s. Kelvinator of India Ltd. [2010 (1) TMI 11 - SUPREME COURT] it has been held by the Supreme Court that even within the period of 4 years there has to be tangible material on the basis of which assessment can be reopened. No justification for reopening the assessment. Lastly we express our displeasure at the conduct of the officer of revenue in issuing a fresh notice despite a binding decision in the case of the assessee and the law laid down by the Supreme Court. The revenue must reign in their officers in matters which have attained finality failing which costs thrown away may have to be imposed. The impugned order, therefore, cannot be sustained. - Decided in favour of assessee.
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