Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (5) TMI 1522 - AT - Income TaxReopening of assessment - validity of reason to believe - disallowance towards repairs and maintains expenses incurred by the assessee - HELD THAT:- AO on going through the records noticed that assessee claimed certain expenditure towards repairs and maintenance and according to him this is not an admissible expenditure. Therefore he was of the opinion that there is escapement of income within the meaning of Sec. 147 of the Act by the assessee. On going through the reasons recorded, we find that no tangible materials have come on record after completion of assessment so as to believe that the income of the assessee has escaped assessment. It is only from the records the Assessing Officer came to the conclusion that the expenses are not allowable and therefore there is escapement of income. This is only a mere change of opinion of the Assessing Officer to reopen the assessment based on the materials already available on record which it is not permissible under law. See RALLIS INDIA LTD. VERSUS ASSISTANT COMMISSIONER OF INCOME-TAX AND ANOTHER [2010 (3) TMI 164 - BOMBAY HIGH COURT] - Decided in favour of assessee.
|