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2018 (12) TMI 633 - AT - Income TaxReopening of assessment - change of opinion - validity of reasons to believe - proof of escapement of income - Held that:- In the case of CIT vs Kelvinator of India Ltd.[2010 (1) TMI 11 - SUPREME COURT OF INDIA] as held that after the amendment made with effect from 1st April, 1989 in the relevant provisions, the Assessing Officer has to have reason to believe that income has escaped assessment, but this does not imply that the Assessing Officer can reopen an assessment on the mere change of opinion. Explaining further, as observed the concept of 'change of opinion' must be treated as in-built test to check the abuse of power and hence the Assessing Officer, even after the amendment made in the relevant provisions from April 1, 1989, has the power to reopen an assessment provided that there is tangible material to come to the conclusion that there was escapement of income from assessment - we find ourselves in agreement with the ld. CIT(Appeals) that the reopening of assessment made by the Assessing Officer in the present case was bad in law as the same was based merely on the change of opinion and the assessment completed by him under section 143(3)/147 in pursuance thereof was liable to be cancelled being invalid. - Decided in favour of assessee.
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