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2017 (5) TMI 196 - AT - Income TaxReopening of assessment - claim of deduction u/s 80HHC - Held that:- We find from the facts of the case that the assessee has claim deduction u/s 80HHC of the Act at ₹ 97,06,022/- as disclosed in the audit report in form No.10 CCAC. The assessee has considered profits and gains in business amounting to ₹ 3,24.40 lakhs which includes income on account of exchange rate difference amounting to ₹ 2.58 crore and an amount of ₹ 4.47 lakhs on account of interest from bank and insurance claim etc. The AO during the course of original proceeding examine the working of the claim of deduction u/s 80HHC of the Act and framed assessment u/s 143(3) of the Act. Admittedly, the AO reopened the assessment after expiry of four years from the end of relevant AY by issuing notice u/s 148 of the Act dated 14-12-2010. It was claimed that there was no failure on the part of the assessee to disclose fully and truly all material facts necessary for the assessment of the assessee. There is no allegation in the reasons recorded that there is any failure on the part of the assessee to disclose any material fact, fully and truly, necessary for the assessment of the assessee. Once there is no failure on the part of the assessee to disclose the material facts, the assessment could not be reopened by invoking the provisions of section 147 r.w.s. 148 of the Act as that will tantamount the change of opinion. Accordingly, we confirm the order of CIT(A) quashing the re-assessment for the reason that the assessee’s case falls under proviso to section 147 of the Act. - Decided in favour of assessee
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