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2016 (7) TMI 668 - AT - Income TaxReopening of assessment - Undisclosed investment made in purchase of colour and chemical - Held that:- The information has been gathered from the record held with the department which were submitted by assessee only during regular course of assessment proceedings u/s 143(3) r.w.s. 153A of the Act and they were very much available before the ld. Assessing Officer who has thereafter framed the assessment order. Certainly there was no failure on the part of the assessee company to disclose fully and truly all the material facts necessary for assessment and as there being no new or fresh material before the Assessing Officer, mere change of opinion cannot form the basis of reopening the assessment. Therefore, appeal of the department can be dismissed on this ground. With the help of rule 27 of ITAT Rules, respondent can raise an argument qua an issue which has been decided against him in the impugned order. The respondent may not get further positive relief. For example the ld. CIT(A) has decided certain additions against the assessee and assessee did not file appeal against confirmation of those additions, meaning thereby that those issues have become final. They cannot be deleted by quashing the assessment order on the ground of reopening. In other words revenue cannot be put in more disadvantageous situation except dismissal of its appeal. In the appeal of revenue, respondent assessee can not get positive relief. He can only get the appeal dismissed on the ground that CIT(A) has erred in appreciating the issue of re-opening. On merits also we are of the view that ld. CIT(A) has rightly observed that the difference between purchase figures as per audited financial statements and as per consolidated monthly details furnished by assessee during assessment proceedings, pertained only to the adjustment of cenvat credit, discount on purchases, adjustment on account of octroi and paid on purchases and all these adjustments were duly given effect in the books of account maintained by assessee and there is no other evidence brought on record by the ld. Assessing Officer to prove that there was any unaccounted purchases. - Decided in favour of assessee
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