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2012 (10) TMI 508 - AT - Income TaxValidity of notice issued u/s 148 - Reopening of assessment u/s 147 – AO made assessment u/s 143(3) and pass order on 28.02.2006 - AO issued notice u/s.148 dt.19.3.2008 after recording reason – Assessee contended that no reopening lie on a mere change of opinion when an issue had been decided in the original assessment made u/s 143(3) - AO has reason to believe that due to some inherent defect in the assessment, the income chargeable to tax had been under assessed or assessed at too low rate or excessive relief was granted - Held that:- The reopening of assessment based on the materials already considered and adjudicated would amount to reviewing the assessment order by re-appreciating the material already on record, which is not contemplated u/s.147. That initiation of reassessment proceedings by the AO is not valid as he has initiated reassessment proceedings only on re-appreciation of material already considered and thus it is a mere change of opinion. Therefore, action of AO to issue notice u/s.148 is not valid. In favour of assessee
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