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2018 (10) TMI 442 - MADRAS HIGH COURTReopening of the assessment u/s 148 - validity of reason to believe - Held that:- Every non disclosure of material facts will not or cannot be a justifiable reason for reopening sustainable under judicial scrutiny. Such non disclosure of a material fact must be of such nature that, but for such non disclosure, the income, relatable to such material fact, would not have escaped assessment. In other words, it should lead to an irrebuttable conclusion that by the conduct of the assessee, either by providing wrong or incorrect particulars or by not providing the full and correct particulars, he should have made the Assessing Officer not to bring a particular income to tax, which is otherwise liable to be taxed. If this test is applied to the present case, the Revenue has to fail. It is settled law that mere change of opinion on the existing material cannot be a ground for reopening the assessment in the absence of any new material that had come to the possession of the Assessing Officer. In this case, there is no tangible material available before the Assessing Officer to reopen the assessment and on the other hand, it was purely out of his change of opinion on the material already existed. - Decided in favour of assessee.
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