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2014 (11) TMI 271 - HC - Income TaxReopening of assessment u/s 147 – Change of opinion – Held that:- The AO in the assessment order has referred to the facts - the Tribunal rightly concluded that the reasons which have been assigned to reopen the assessment are nothing but reflecting a change in the opinion - That cannot be the basis for reopening the same is the settled legal position - there is no tangible material based on which the AO can come to a conclusion that the payment made by the Assessee to foreign parties for software was a payment for license to use the software - In the absence of relevant materials and particulars substantiating and proving the reasons and grounds the Tribunal concluded that the reopening is purely on a change of opinion - so long as there are reasons and which constitute the belief for reopening the assessment whether they are established or proved is something which cannot be decided in the writ jurisdiction – in Assistant Commissioner of Income-Tax Versus Rajesh Jhaveri Stock Brokers P. Limited [2007 (5) TMI 197 - SUPREME Court] it has been held that if the AO has reason to believe that income and escaped assessment it confers jurisdiction to reopen the same - The ambit and scope of the powers being clear, in no case they enable the AO to reopen the assessment on mere change of opinion – thus, the order of the Tribunal is upheld – Decided against revenue.
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