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2019 (3) TMI 1310 - HC - Income TaxReopening of assessment - During the pendency of the writ petition, the A.O. has passed fresh assessment order - tangible material forming a live link for change of opinion - change of opinion - recourse to legal remedies available - HELD THAT:- We find force in the submissions of the learned counsel for the Revenue that the petitioner, if so advised, should resort to statutory remedy. It is well settled by now that Section 147 of the Income Tax Act does not permit reassessment of an income merely because of the fact that the AO has a change of opinion. Section 147 confers the power of reassess and not the power of review. The change of opinion implies formulation of an opinion and then a change thereof. Refereeing to case of INCOME TAX OFFICER WARD NO. 16 (2) VERSUS M/S TECHSPAN INDIA PRIVATE LTD. & ANOTHER [2018 (4) TMI 1376 - SUPREME COURT] when we carefully examine the facts of the case in hand, we find that there is tangible material as pointed by the CITC in huge amount of income escaping assessment, therefore assessment was reopened. Thus there is tangible material forming a live link for change of opinion. It is not in dispute that after reopening, fresh assessment order has been passed. Thus, the reopening of assessment and the resultant assessment order dated 28.12.2018 both could be challenged more effectively in statutory remedies provided under the Income Tax Act, We, therefore, decline to exercise our extra ordinary powers conferred by article 226 of the Constitution of India. Writ petition fails and is hereby dismissed summarily. Petitioner is free to take recourse to legal remedies available to it under the law against the reopening of assessment and the fresh order of assessment and while doing so, this order shall not come in way.
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