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2022 (1) TMI 375 - HC - Income TaxValidity of Reopening of assessment u/s 147 - Eligibility of reasons to believe - change of opinion - Onus to prove - failure on the part of petitioner to fully and truly disclose all material facts required for assessment - whether primary material facts not disclosed ? - HELD THAT:- The assessee had made submissions on these items earlier but still states that income chargeable to tax has escaped because in his opinion certain amounts are required to be added back in profit and loss account and certain amounts should not have been disallowed. Where on consideration of material on record, one view is conclusively taken by the Assessing Officer, it would not be open to reopen the assessment based on the very same material with a view to take another view. We are satisfied that petitioner had truly and fully disclosed all material facts necessary for the purpose of assessment. Not only material facts were disclosed by petitioner truly and fully but they were carefully scrutinized and figures of income as well as deduction were reworked carefully by the AO - In the reasons for reopening, there is not even a whisper as to what was not disclosed. In our view, this is not a case where the assessment is sought to be reopened on the reasonable belief that income had escaped assessment on account of failure of the assessee to disclose truly and fully all material facts that were necessary for computation of income but this is a case wherein the assessment is sought to be reopened on account of change of opinion of the Assessing Officer- See 3I INFOTECH LTD. VERSUS ASSISTANT COMMISSIONER OF INCOME-TAX [2010 (6) TMI 372 - BOMBAY HIGH COURT] - Decided in favour of assessee.
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