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2018 (12) TMI 1517 - HC - Income TaxReopening of assessment u/s 147 - mere change of opinion - Held that:- For initiating a proceeding under section 147, the scrutiny assessment having been carried out, the limitation would be applicable, is the contention of the assessee. We need not go into this controversy since we have found that the block assessment could have taken note of and took note of the bank transactions, the details of which were obtained from the banks, on specific directions based on the partial details of such accounts recovered on search. As a matter of fact the bank transactions in its entirety were noticed by the AO who carried out the block assessment and decided to treat it as inclusive of professional income. The attempt of the next incumbent officer who issued notice under section 148, is a mere change of opinion. We hence refuse to answer the second question of law framed by us for reason of the answer to the first having decided the appeals. The first question, on the reasoning above of mere change of opinion is answered in favour of the assessee and against the Revenue. We deem it fit, on the answer given by us, to allow the appeals thus setting aside the proceedings initiated, under section 148 read with section 147, against the assessee.
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