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1996 (5) TMI 3 - SUPREME COURT
ITO allowed the change in the method of accounting for the assessment years concerned herein knowingly. It was not a case of an inadvertent mistake which was discovered later on after completion of the assessment or oversight. Once it is found that the change in the method of accounting was knowingly allowed by the Income-tax Officer, it is not permissible for the Income-tax Officer, or his successor, to reopen the assessment at a later point of time under section 147(b)