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2015 (3) TMI 578 - HC - Income TaxReopening of assessment - whether on re-opening of a case under Section 147, it is open to ITO to consider all other items and not to confine to the item on which re-assessment notice has been given? - Held that:- From the order dated 13.03.1975, whereby the Assessing Officer not only re-opened the case but made assessment in respect to various other items, other than the quantum of development rebate, we find that he has relied on Apex Court's decision in V. Jaganmohan Rao and Ors. vs. Commissioner of Income Tax and Excess Profits Tax, Andhra Pradesh, [1969 (7) TMI 4 - SUPREME Court] in order to hold that once assessment is re-opened, the previous assessment is set aside and whole assessment proceedings restart afresh. This view has also been confirmed by Tribunal while confirming re-assessment proceedings and opening of entire matter afresh. A judgment must be read as a whole and the observations from the judgment should be considered in the light of questions which were before the Court. The decision of Court takes it colour from the questions involved in the case in which it has rendered. While applying the decision to a later case, the Court must carefully try to ascertain the true principle laid down in the decision and not to pick out words from the decision, divorce from the context of question under consideration by Court. If the assessee cannot be allowed to convert the proceedings initiated under Section 147 as revisional or review, the same would also be not available to Revenue. Thus we do not find anything which may help Revenue - Decided in favour of assessee.
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