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2014 (12) TMI 137 - AT - Income TaxValidity of notice for reassessment u/s 147 r.w 148 Determination of total loss by AO in reassessment Disallowance u/s 14A being change of opinion - Reopening made after four years or not - Held that:- A specific query was asked on the issue of disallowance required to be made u/s 14A of the Act, by the AO during the original assessment proceedings - after considering the reply of the assessee, the AO accepted the explanation given by the assessee and did not make any disallowance - the AO who completed the original assessment has clearly come to a conclusion that the expenditure is not relatable to the earning of dividend income which is not part of total income - the reopening in this case is made on a change of opinion which is not permissible in law - relying upon Commissioner of Income-tax-VI, New Delhi Versus Usha International Ltd. [2012 (9) TMI 767 - DELHI HIGH COURT] - the reopening is bad in law as the AO during the original assessment proceedings examined the issue and it was only on a change of opinion that the assessment was reopened thus, the reassessment proceedings are set aside Decided in favour of assessee.
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