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2015 (6) TMI 136 - HC - Income TaxReopening of assessment - deduction u/s. 80HH - Held that:- On the facts and circumstances of the case, the Tribunal was not justified in upholding the validity of the Reassessment Order dated 3.6.93 passed u/s. 143(3) r.w.s. 147 of the Act especially when the original assessment order passed u/s. 143(3) of the Act on 15.12.1989 was cancelled by C.I.T., Amritsar vide his order dated 28.2.92 passed u/s. 263 of the Act and no fresh order was passed pursuant thereto. In view of the decision of Commissioner of Income-tax vs. Greenworld Corporation [2009 (5) TMI 14 - SUPREME COURT OF INDIA] once we answer question No.1 in favour of the appellant-assessee, it is held that the Tribunal was not right in holding that assessment was validly reopened u/s. 147 of the Act, in spite of the fact that all primary facts were disclosed by the appellant in the return of income and after considering the same, deduction u/s. 80 HH was allowed on interest income, dividend income and rental income in the original assessment and hence mere change of opinion does not constitute information within the meaning of Section 147 of the Act . - Decided in favour of assesse.
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