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2016 (10) TMI 11 - HC - VAT and Sales TaxReassessment under Section 29(7) of Act, 2008 - change of opinion - Eligibility Certificate under Section 4-A of U.P. Trade Tax Act, 1948 - tax exemption for a period of ten years from 15.04.1999 to 14.04.1999 for ₹ 107,58,99,224/- - modification in Eligibility Certificate - U.P. Act, 1948 was abolished on 31.12.2007 and U.P. Value Added Tax Act, 2008 came into force with effect from 01.01.2008 - Rule 70(9) relied by respondent substituted on 28.02.2010 by U.P. Value Added Tax (Second Amendment) Rules, 2010 published in the Notification dated 04.02.2010 - Whether here is a case of change of opinion so as to deny permission for reassessment under Section 29(7)? - Held that: - the decision in the case of ALA Firm Versus Commissioner of Income-Tax [1991 (2) TMI 1 - SUPREME Court] is relied upon, where it was held that If a conscious application of mind is made to the relevant facts and material available or existing at the relevant point of time while making the assessment and again a different or divergent view is reached, it would tantamount to "change of opinion". If an assessing authority forms an opinion during the original assessment proceedings on the basis of material facts and subsequently finds it to be erroneous; it is not a valid reason under the law for reassessment. Entire material which is now being taken into consideration for the purpose of impugned notice and approval granted was available before Assessing Authority and after having considered the same, assessment was made. Now authorities, taking a different view, have issued impugned notice. Thus, it is a clear case of change of opinion, hence reassessment is not permissible. Writ petition allowed - decided in favor of petitioner - petitioner entitled to cost ₹ 5,000/-.
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