2015 (2) TMI 766 - HC - Income Tax

Reopening of assessment - Tribunal cancelling the re-assessment as it was a case of change of opinion when the Assessing Officer had not expressed any opinion during the regular assessment proceeding - Held that:- The impugned order of the Tribunal has rendered a finding of fact on the basis of material before it, in particular the fact that during original assessment proceedings a query was made with regard to the same issue which was responded to by the respondent - Assessee and on satisfaction of the same, the Assessing Officer had passed an assessment order. Therefore, reopening of assessment on an issue in respect of which a query was raised and responded to by the assessee would amount to a change of opinion. No mention of any tangible material in the reasons recorded for issuing reopening notice under Section 148 of the Act. - Decided in favour of assessee.