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2015 (12) TMI 1028 - AT - Income TaxReopening of assessment - Long Term Capital Gains computation - Held that:- The Assessing Officer has issued notice u/s 147 after having credible information on record during the course of survey regarding the quantum of Long Term Capital Gains. Recalling the facts, the order of the CIT(A) for the Asst. Year 2008-09 was not regarding the quantum of Long Term Capital Gains, but was regarding the Asst. Year in which the Long Term Capital Gains is to be brought to tax. Hence, it cannot be held as the review on the basis of change of opinion. The issue in the appeal for the Asst. Year 2008-09 and also for the Asst. Year 2006- 07 was regarding the year in which the Long Term Capital Gains was to be brought to tax. The issue in the appeal was never regarding the quantum of Long Term Capital Gains. Hence the submissions of the learned Authorized Representative in this regard do not support the case of the appellant that the Assessing Officer has no jurisdiction u/s 147 of the Income Tax Act, 1961. There is no change of opinion considering the facts of the case. Hence the decision relied on by the Authorized Representative are not relevant to the facts of the case. The submissions of the learned Authorized Representative regarding change of opinion are rejected and the 148 proceedings are upheld - Decided against assessee
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