Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2017 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (7) TMI 538 - HC - Income TaxReopening of assessment - reason to believe - disallowance u/s 35D and Section 14A - Held that:- What is apparent on seeing the records of the present case is that during the scrutiny assessment, the claims of the petitioner were thoroughly scrutinized and an Assessment Order was accordingly passed on 21.12.2010. From the communications on record which were exchanged inter se between the assessee and the Revenue, it is apparent that on being satisfied with the questions that were answered by the assessee, the Revenue passed an order under Section 143(3) of the Income Tax Act and the question of Section 35D and Section 14A of the Income Tax Act stood concluded. It is apparent from “reasons to believe” that the “reasons to believe”, are nothing but mere ‘Change of Opinion’. As held by this Court in the decisions referred to hereinabove, it is not open for the Revenue to reopen the assessment in exercise of powers under Section 148 of the Income Tax Act only under the pretext of ‘Change of Opinion’. Accordingly, the notice dated 26.03.2013 issued under Section 148 of the Income Tax Act and the consequential Assessment Order dated 27.01.2014 passed by the respondents is quashed and set aside. - Decided in favour of assessee.
|