Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (11) TMI 1824 - AT - Income TaxReopening of assessment - four years has expired from the end of the relevant assessment year as on the date of issuance of notice u/s. 148 - change of opinion - Unexplained divided received - HELD THAT:- In this case, the assessee has filed complete details as is evident from the above facts and the details in respect of divided received and also the details of expenditure, which have been filed by the assessee vide different letters addressed to the AO, we feel that the reopening is just merely a change of opinion and nothing else. The change of opinion is not permissible in law as held by the Hon’ble Apex Court in the case of Foramer France[2003 (1) TMI 101 - SC ORDER] and JINDAL PHOTO FILMS LTD. [1998 (5) TMI 20 - DELHI HIGH COURT] Thus we are of the view that even in post-1989 amended provision of Section 147 of the Act, change of opinion is not permissible. Accordingly, we allow this legal issue of the assessee’s appeal and reverse the order of lower authorities on this issue.
|