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2014 (10) TMI 610 - AT - Income TaxValidity of reopening of assessment u/s 147 – Change of opinion - Held that:- The assessee along with the return of income, has made a claim for deduction under section 80IC with regard to its Century Pulp & Paper unit - Such a claim of deduction under section 80IC, were duly supported by the audit report under section 10CCA - during the course of the original assessment proceedings, the AO has raised queries with regard to the claim of deduction u/s 80IC, not once but twice - the assessee has duly responded to such query and filed replies before the AO - the AO has reduced the claim of deduction u/s 80IC, by allowing the claim in respect of profits attributable to paper and the deduction relating to profits attributable to sale of pulp was denied – "change of opinion" preclude the reopening of the assessment, whether within or outside the four years' limit from the end of the relevant assessment year - the "reasons recorded" by the AO is purely based on "change of opinion" de–hors any tangible material coming into record – following the decision in Commissioner of Income Tax, Delhi Versus M/s. Kelvinator of India Limited [2010 (1) TMI 11 - SUPREME COURT OF INDIA] - the notice dated 15th December 2011, u/s 148, and consequent assessment order dated 22nd December 2011, passed u/s 147/143(3), is held as void as the "reasons recorded" are based on "change of opinion" and do not clothe the AO with jurisdiction to re–open the assessment – thus, the order of the CIT(A) is set aside – Decided in favour of assessee.
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