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2022 (3) TMI 1474 - HC - Income TaxReopening of assessment u/s 147 - reason to believe - onus to prove - HELD THAT:- We are satisfied that the reasons recorded for reopening are purely based on change of opinion and not due to any failure on the part of petitioner to disclose any material fact. AO says that the AO who did the original assessment proceedings under Section 143(3) of the Act added back only 1% of the total turnover/sales to the total income of the assessee instead of adding back 5%. This indicates clear change of opinion. Moreover, there is nothing to indicate why it should be 5%. In the circumstances, we are satisfied that the notice and the impugned order has to be quashed and set aside. - Decided in favour of assessee.
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