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2010 (11) TMI 686 - HC - Income TaxAssessment u/s 143(3) read with section 148 of the Act - the assessment was reopened essentially not because of escapement of income, but because of change of opinion, which was not permissible even in the amended provisions under section 147 - The sole basis on which the assessment has been reopened is that while framing the original assessment order, the Assessing Officer has accepted the system of accounting adopted by the assessee as valid, whereas in the re-assessment made under section 147, the system of accounting adopted by the assessee has not been considered to be appropriate - It is therefore change of opinion on the basis of which re-assessment is made - The learned Tribunal has relied on the law laid down by the Supreme Court in CIT v. Foramer France ([2003 (1) TMI 101 - SUPREME Court] - to hold that reopening of assessment on mere change of opinion especially when there is no non-disclosure of material fact by assessee, is not permissible - Hence, the appeal is dismissed accordingly.
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