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2015 (6) TMI 878 - AT - Income TaxReopening of assessment - Addition on account of provision for doubtful debt - while calculating income u/s 115JB, total amount of provision for doubtful debt was not added back by the assessee for calculation of its book profit - CIT(A) deleted the addition - Held that:- In the reasons recorded, the AO merely stated that though assessee while computing the income under the normal provisions of the Act, added back the provision for bad and doubtful debts but while computing/ calculating income u/s 115JB did not add back the provisions for bad and doubtful debts and, therefore, the income had escaped assessment. Thus, there is no allegation that there was any default on the part of assessee in disclosing fully and truly all material facts. Admittedly, the AO had raised queries in course of original assessment proceedings which were duly replied by assessee vis a vis the provision of section 115JB and, therefore, this was clearly a case of change of opinion, which is impermissible for initiating proceedings u/s 148. We find that this issue is squarely covered by the decision of Sun Investment Pvt. Ltd. (2012 (2) TMI 193 - DELHI HIGH COURT ), wherein under identical facts the reassessments were held to be without jurisdiction. The Hon’ble Delhi High Court also considered the insertion by Finance (No. 2) Act, 2009 with retrospective effect from 1-4-2001 and after considering the merit of each amendment held that reassessment proceedings were not justified - Decided in favour of assessee.
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