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2018 (9) TMI 65 - AT - Income TaxReopening of assessment - Deemed dividend under Section 2(22)(e) - Exemption under Section 10B - Held that:- Revenue filed appeal before this Tribunal in respect of deemed dividend under Section 2(22)(e) of the Act alone. As far as exemption under Section 10B of the Act is concerned, the Revenue accepted the order of the CIT(Appeals) and no appeal was filed before this Tribunal. Therefore, as rightly submitted by the Ld. representative for the assessee, the order of the CIT(Appeals) in respect of exemption under Section 10B of the Act attained finality. The order of the Assessing Officer merged with the order of the CIT(Appeals), therefore, this Tribunal is of the considered opinion that the Assessing Officer cannot overturn the order of the CIT(Appeals) by reopening the assessment on the ground that the assessee has not filed return of income within the time limit. This Tribunal is of the considered opinion that the finality attained in a judicial order or in the order of executive officer by whom the order was passed in a judicial proceeding, cannot be so lightly disturbed by the subordinate officers. If the Assessing Officer is allowed to reopen the assessment after the order of the CIT(Appeals), then the tax payers may not have confidence on the judicial system of this country. The power to determine or adjudicate an issue, even though technically flows from Income-tax Act, 1961, actually flows from confidence reposed by the people in the system. In this case, an appeal was filed before this Tribunal against the very same order of the CIT(Appeals). But the Assessing Officer accepted the decision of the CIT(Appeals) in respect of the claim of exemption under Section 10B of the Act. Therefore, this Tribunal is of the considered opinion that reopening of assessment by the Assessing Officer by issuing notice under Section 148 would amount to overturning or disturbing the order of the CIT(Appeals) which attained finality. - decided in favour of assessee
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