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2015 (3) TMI 231 - AT - Income TaxReopening of the assessment u/s 147/148 - Change of opinion - Held that:- Commissioner of Income Tax has called for the record of this assessment order dated 05.10.2007 and after show causing the assessee u/s 263, had found the order not only erroneous but also prejudicial to the interest of the revenue and had directed the A.O. to revise his order. But the A.O. failed, inadvertently, to give effect to the revisional directions and the same became time barred. This fact has remained uncontroverted, rather, is found to be correct. Having found that, we have further noticed that the A.O. has issued notice u/s 148 after recording same reasons as were the grounds of revision in the notice issued u/s 263 of the Act by the Commissioner. Thus, it becomes clear that with the object of correctlinghis mistake the A.O. has taken the route of re-assessment. We have found it for a fact that no new material came to the possession of the A.O. The assessee had disclosed all the facts of his case fully and truly. No authority can be allowed to take a benefit of its mistakes. The provisions of the Act are very clear. These are not to be carried out simultaneously. It would amount to misuse of the provisions of the Act in case we accept the contention of ld. D.R. that the A.O. can put into use all the provisions of the act at his sweet will. This is not the intention of the legislation. The A.O. has, in fact, not applied his mind to form his opinion regarding the escapement of income. - notice issued u/s 148 in this case as invalid and quash the re-assessment order being ab-initio void - Following decision of CIT vs M/s. Vardhman Industries [2014 (6) TMI 223 - RAJASTHAN HIGH COURT] - Decided in favour of assesse.
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