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2014 (9) TMI 789 - DELHI HIGH COURTReassessment proceedings u/s 148 r.w. section 147 - MAT assessment made u/s 115JB – Held that:- The Tribunal had rightly set aside the re-assessment notice/order on the grounds that it is a case of change of opinion and the assessee cannot be faulted for failure to fully and truly disclose of all material facts - at the time of original assessment, the AO had gone into the question of interest accrued while computing income under MAT - the AO had formed an opinion and had accordingly computed the income under the applicable provisions - The assessment order may be wrong, but then it could have been corrected if it was erroneous and prejudicial to the interest of the Revenue u/s 263 of the Act - Power for re-opening u/s 147/148 of the Act is circumscribed by jurisdictional pre-conditions, two of them being that it should not be a case of change of opinion and there should be failure on the part of the assessee to fully and truly disclose all material facts- there was no merit in the appeal – Decided against revenue.
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