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2012 (11) TMI 68 - AT - Income TaxReopening of assessment - unaccounted Foreign travel expenses - disallowance of 1/4th of claim - Held that:- Considering the decision taken in CIT, Delhi Versus M/s. Kelvinator of India Limited [2010 (1) TMI 11 - SUPREME COURT OF INDIA] there was no tangible material before A.O. to come to conclusion that there was escapement of income. The Assessing Officer has no power to review and has the power to re-assess. CIT (A) has also given a finding that the reasons for issuing notice u/s. 148 are the same which were considered by the A.O. during the original assessment proceedings and therefore it amounts to change of opinion - apart from recommendation of audit party, the A.O. was not having any fresh information so as to form belief that the income has escaped assessment. The Ld. D.R. could not controvert the findings of CIT (A) by bringing any contrary material on record - in favour of assessee.
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