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2018 (11) TMI 1007 - AT - Income TaxReopening of assessment - addition towards Income from house property - reasons to believe - Held that:- The condition precedent to the invocation of the jurisdiction is clearly absent since there is not even an averment to the effect that there was failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment. Hon’ble Supreme Court in the case of CIT vs Kelvinator of India Ltd (2010 (1) TMI 11 - SUPREME COURT OF INDIA) held that the power to re-assess cannot be exercised on the basis of mere change of opinion, i.e. if all facts are available on record and a particular opinion is formed, then merely because there is change of opinion on the part of the AO notice u/s 147 / 148 of the Act is not permissible Reopening of assessment is bad in law as the AO has reopened the assessment on change of opinion without there being any fresh material which suggests escapement of income and also there is no allegation by the AO that there is a failure on the part of the assessee to disclose fully and truly all the material facts necessary for assessment. Hence, we quash the re-assessment proceedings and consequent addition made by the AO towards income from house property. - decided in favour of assessee.
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