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2018 (12) TMI 467 - MADRAS HIGH COURTReopening of assessment u/s 147 - validity of reason to believe - proof of change of opinion - Held that:- Reading of the reasons, clearly shows that the assessing officer intended to verify the transactions as it was not disclosed by the assessee. Thus, the omission on the part of the assessee has been pointed out and the reason why the Assessing Officer wants to verify is also clear from reading the reasons for reopening. Therefore, we do not agree with the submissions of the learned counsel that no opinion was formed by the Assessing Officer for being satisfied that there is a case for reopening. The assessee has not filed the balance sheet or statement of affairs as noted by the Assessing Officer and in the return of income, the assessee has filed only statement showing computation of income consisting of salary income and interest income from other sources. Even when the reassessment proceedings were commenced by issuance of notice, dated 02.11.2011, the assessee did not file a fresh return of income, but informed the Assessing Officer to treat the return of income filed on 30.07.2009, as return in response to the notice under Section 147. Whatever was placed before the Assessing Officer through their authorized representative's letter dated 30.12.2011, cannot be taken to be full and true disclosure pertaining to the transactions with S.Nagarajan. As satisfied with the reasons assigned for reopening of assessment is just and proper and no opinion was formed during the assessment proceedings dated 30.12.2011, for it to be termed as a 'change of opinion', more so, when the assessee has failed to fully and truly disclose all the materials necessary for its assessment. Thus, the reasons assigned by the learned Writ Court is just and proper and does not call for any interference. - decided against assessee.
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