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2020 (8) TMI 763 - HC - Income TaxReopening of assessment u/s 147 - failure on the part of the assessee to disclose fully and truly all material facts OR not ? - CIT (Appeals)15, Chennai came to the conclusion that in the original assessment proceedings, no opinion was formed by the Assessing Officer - Tribunal cancelling the reopening proceedings - HELD THAT:- A perusal of the order of the Commissioner of Income Tax (Appeals) would make it clear that he has been persuaded to pass the orders as if there was no change of opinion, as, according to him, no opinion was formed by the Assessing Officer. However, the fact remains that the original assessment order was passed by the Assessing Officer after forming the opinion. Reassessment proceeding under Section 147 was made to form change of opinion and therefore, it would clearly amount to reviewing the original order of assessment u/s147 under the pretext of reassessment. We make it clear that in the reassessment proceedings u/s 147, the original assessment order cannot be reviewed. Proceedings also cannot be initiated merely because there is a possibility of change of opinion. No review on the original assessment order is permissible in the reassessment proceedings initiated under Section 147. Therefore, we are of the view that the Tribunal had rightly set aside the impugned reassessment made under Section 147 - Decided in favour of assessee.
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