Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2018 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (10) TMI 73 - HC - Income TaxReopening of assessment - reasons to believe - scrutiny assessment on book profits - Held that:- The petitioner underwent a scrutiny assessment where, the order passed by the Assessing Officer dealt with the issue of book profits. He arrived at a figure after working on the materials provided to him. However, according to the Assessing Officer in the proceeding under Section 147, the calculation of book profits is incorrect and that, the book profits claimed should be treated in a different way. According to the Assessing Officer, the computation done in the order of assessment is incorrect, resulting in escapement of income for assessment. The same, to my understanding, will constitute change of opinion. He had all the materials at the time of scrutiny assessment to form an opinion. He had done so as appearing in the order of assessment. There is no new material on record to suggest that, the assessee is guilty of suppression. Therefore, it cannot be said that, there are reasons for the Assessing Officer to arrive at a finding that, income has escaped assessment. The Assessing Officer, is trying to review his order of scrutiny assessment. In the facts of the present case, he is seeking to have a different opinion than that expressed in the order of scrutiny assessment, on the basis of the same materials. The same is not permissible. - decided in favour of assessee
|