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2016 (8) TMI 683 - AT - Income TaxReopening of assessment - change of opinion - Held that:- Notice under section 148 was issued upon the assessee after the expiry of four years from the end of the assessment year. The proviso appended to section 147 of the Income Tax puts an embargo upon the power of the AO to issue notice under section 148 in the cases, where, scrutiny assessment was made and four years have expired after the end of the relevant assessment year. He cannot issue notice in such cases unless it is established that income chargeable to tax has escaped on account of failure of the assessee to disclose all material facts fully and truly. A perusal of the reasons would nowhere show that the AO has made out his case exhibiting the fact that the assessee has failed to disclose any material particulars fully and truly regarding assessment of its income. The ld.CIT(A) has made a detailed analysis of the facts already disclosed by the assessee, and thereafter, recorded a finding that the AO has sought to reopen the assessment on the basis of change of opinion. After going through the well reasoned order of the ld.CIT(A), in the light of various authoritative pronouncements, we are of the view that no interference is called in the order of the ld.CIT(A). Accordingly, appeal of the Revenue is dismissed.
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