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2021 (12) TMI 700 - AT - Income TaxReopening of assessment u/s 147 - disallowance of excessive depreciation - Depreciation on Electrical installation – casting @ 15% as claimed or @ 10% as allowed by the A.O. - HELD THAT:- As per the mandate of law even where a concluded assessment is sought to be reopened by the A.O within a period of 4 years from the end of the relevant assessment year, it is must that the A.O has fresh material or information with him that had led to the formation of belief on his part that the income of the assessee chargeable to tax has escaped assessment.. As regards the view taken by the CIT(A) that as the issue in question i.e entitlement of the assessee company for claim of depreciation on electrical installations was not looked into by the A.O in the course of the original assessment proceedings, therefore, in the absence of any formation of a view by the A.O the concept of ‘change of opinion’ could not be brought into play, the same we are afraid does not find favour with us. As decided in the case of Dell India (P) Ltd. [2021 (2) TMI 37 - KARNATAKA HIGH COURT] an oversight, inadvertence or mistake of assessing officer or error discovered by him on reconsideration of the same material tantamounts to a mere change of opinion and, the same does not give him power to reopen a concluded assessment. As the A.O for the reasons discussed at length hereinabove had wrongly assumed jurisdiction and reopened the concluded assessment of the assessee company i.e without satisfying the mandate of law as required u/s 147 of the Act, therefore, the reassessment order passed by him u/s 143(3) r.w.s 147, dated 23.09.2013 cannot be sustained and is liable to be struck down. - Decided in favour of assessee.
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