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2015 (10) TMI 2617 - ITAT MUMBAIReopening of assessment - assessee has contravened the provisions of section 13(1)(c), 13(3) and section 11(4), as a result of which capital expenditure has to be disallowed - Held that:- On a perusal of the reasons recorded for re–opening, we do not find any such allegation made by the Assessing Officer which satisfies the condition of proviso to section 147. On the contrary, as it appears, the re–opening of assessment is on the basis of facts and material which are already disclosed by the assessee either in the return of income or during the original assessment and on the basis of which the original assessment was made. No new tangible material has come to the possession of Assessing Officer to form a belief that income has escaped assessment. It is also pertinent to mention here, in the appeal preferred against the original assessment order, Commissioner (Appeals) has accepted assessee’s claim of exemption under section 11 of the Act. Thus there being no failure on the part of the assessee to disclose fully and truly all material facts necessary for its assessment, the re–opening of assessment on a change of opinion, that too, after expiry of four years from the end of relevant assessment year is invalid. - Decided in favour of assessee
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