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2022 (10) TMI 415 - ITAT PUNEReopening of assessment u/s 147 - Whether proceedings initiated were merely on change of opinion? - HELD THAT:- Reassessment is not a case where the assessee has not disclosed fully and truly all material facts but it is a case where the re-assessment proceedings were initiated only on a mere change of opinion by the A.O which is not permissible in law. We are of the considered view having perused the order of the ld. CIT(A) and examination of facts and circumstances in this case as well as aforestated judicial pronouncement of the Hon’ble Bombay High Court [2022 (5) TMI 176 - BOMBAY HIGH COURT] we find that here is the case where all the material facts were fully and truly disclosed by the assessee in the original scrutiny assessment proceedings. D.R also could not refute these facts on record. He could not demonstrate by placing any material to show that whether there was even a whisper of any new evidence enabling the A.O for resorting to re-assessment proceeding. It is also admitted by the parties that such re-assessment was undertaken by the department beyond the period of four years and when the assessee has disclosed fully and truly all material facts at the time of original assessment proceedings the proviso to section 147 does not warrant the A.O to further reopen such assessment when there is no new material or evidence in his possession to warrant such reopening of the proceedings. In view thereof, we have no reason to interfere with the findings of the ld. CIT(A) on facts as well as in law whereby the re-assessment proceedings has been held to be invalid and bad in law and we uphold the same. The appeal of the revenue is dismissed.
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