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2019 (3) TMI 8 - AT - Income TaxReopening of assessment - Addition allowing the deduction u/s 54 being long term capital gain - change of opinion - HELD THAT:- In the instant case, AO opened the proceedings on the basis of same facts which have already been considered by the assessing officer while passing the original assessment order u/s 143(3). Therefore question arose as to whether the Assessing officer can reassess the facts and materials which were the subject matter of the original assessment. C.I.T. vs. Kelvinator (I) Ltd. [2010 (1) TMI 11 - SUPREME COURT OF INDIA] while dealing with identical issue has held that the assessment cannot be re-opened u/s.147 on the basis of same facts and materials (and no more) disclosed at the time of original assessment made under section 143(3) by mere change of opinion. In view of dictum in CIT vs. Kelvinator of India Ltd as the opening of assessment is based upon mere change of opinion, hence the assessment order is liable to be quashed on this ground alone, therefore we do not have any hesitation to quash the assessment order and consequently the impugned order is set aside. - Decided in favour of assessee.
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