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2021 (4) TMI 642 - AT - Income TaxReopening of assessment u/s 147 - Disallowing the appellant’s claim of deduction under section 80IB(11A) - initiation of the proceeding after the expiry of 4 years from the date of completion of the relevant Assessment Year - HELD THAT:- Reopening of an assessment under section 147 is not permitted merely on the ground that there is change in the view of the Assessing Officer and subsequently he believes that earlier views was incorrect particularly when the assessment order itself records that the issue was raised and was decided in favour of the assessee. In that view of the matter the reassessment proceeding in such a case will be hit by the principle of change of opinion and thus liable to be quashed. Since the assessee had truly disclosed all the relevant material facts necessary for the assessment, the preconditions for invoking the proviso of Section 147 had not been satisfied. Hence the Ld. A.O had acted wholly without jurisdiction. We find no justification in interfering with the order passed by the Learned CIT(A) in holding the decision of reassessment proceeding under section 147 of the Act for Assessment Year 2005-06 by issuing notice under section 148 of the Act as bad in law in the absence of mentioning of any allegation against the assessee in failing to disclose fully and truly the material facts in the assessment proceeding under section 143 (3) - Merely by making a statement in the reasons recorded that the assessee’s claim of 100% deduction under section 801B(11A) of the Act was incorrectly allowed cannot be said to be justified in reopening the assessment. Such order, passed by the Learned CIT(A), in our considered view is without any ambiguity so as to warrant interference. Hence the order is passed in the affirmative, i.e. in favour of the assessee and against the revenue.
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