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2022 (1) TMI 1392 - HC - Income TaxReopening of assessment u/s 147 - notice issued after more than four years of the expiry of the relevant assessment year - onus is on respondent to show that there was failure on the part of petitioner to fully and truly disclose all material facts that was required for assessment - HELD THAT:- When the primary facts necessary for assessment are fully and truly disclosed, AO is not entitled on change of opinion to commence proceedings for reassessment. Even if the AO, who passed the assessment order, may have raised too many legal inferences from the facts disclosed, on that account the AO who has decided to reopen assessment, is not competent to reopen assessment proceedings. Where on consideration of material on record, one view is conclusively taken by the AO, it would not be open to reopen the assessment based on the very same material with a view to take another view. We also find from the records filed with the petition that a specific query had been raised by the AO and he had sought from petitioner pending details of reconciliation of ITS Information and petitioner had also replied to the same. It is settled law that once a query is raised during the assessment proceedings and the assessee has replied to it, it follows that the query raised was a subject of consideration of the AO while completing the assessment. It is not even necessary that an assessment order should contain reference and/or discussion to disclose its satisfaction in respect of the query raised. Change of opinion does not constitute justification and/or reasons to believe that income chargeable to tax has escaped assessment. [Aroni Commercials Ltd. [2014 (2) TMI 659 - BOMBAY HIGH COURT]]. Notice set aside - Decided in favour of assessee.
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