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2011 (1) TMI 1048 - HC - Income TaxReopening of assessment - registration u/s 12AA - Revenue Audit Party has observed that in the case of the assessee, no trust deed has been executed and registered setting out its objectives, the property of the assessee is also not held under assessee-Trust - Held that:- It is an undisputed position the petitioner has been registered under section 12AA by the CIT, Gandhinagar vide order dated 22.9.2004 - it appears that the belief that income chargeable to tax escaped assessment is that of the Revenue Audit Party and not of the AO - it is not permissible for the AO to go behind the registration obtained by the assessee under section 12AA - CIT v. Kelvinator of India Ltd. [2010 (1) TMI 11 - SUPREME COURT OF INDIA], has held that one needs to give a schematic interpretation to the words "reason to believe" failing which section 147 would give arbitrary powers to the Assessing Officer to reopen assessments on the basis of "mere change of opinion", which cannot be per se reason to reopen - Decided in favor of the assessee
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