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2016 (5) TMI 95 - AT - Income TaxReopening of assessment - reasons to believe - Held that:- From the particulars called for by the Assessing Officer at the time of original assessment proceedings, submissions made by the assessee before the Assessing Officer at the time of original assessment proceedings and the reasons recorded for initiation of reassessment proceedings, it is very much evident that the reassessment proceedings were initiated by the Assessing Officer on the basis of same set of facts which were available before the Assessing Officer at the time of the original assessment. We are of the considered view that the Assessing Officer, at the time of original assessment, was very well aware about the primary facts. The Assessing Officer, while reopening the assessment under section 147, has made no reference to any new material which has come into her possession after the completion of the original assessment under section 143(3) of the Act. In our opinion, it is merely a fresh application of mind by the Assessing Officer to the same set of facts. Thus, it is our considered view that it is a case of mere change of opinion on the material which was already available on record at the time of completion of the original assessment. Therefore, the proceedings for reassessment under section 147 fail to stand the test. - Decided in favour of assessee
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