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2022 (1) TMI 433 - HC - Income TaxReopening of assessment u/s 147 - Eligibility of reasons to believe - Department received certain information from the Directorate of Income Tax, Intelligence & Criminal Investigation that acquisition of Brands and Goodwill as claimed by Petitioner was incorrect and the said transfer has not been established - HELD THAT:- The factum of failure to disclose cannot be culled from the reasons in support of the notice seeking reopening of the assessment. No case of failure to disclose is made out. In our view, on consideration of material, the Assessing Officer has conclusively taken one view and hence based on the same material, it will not be open to reopen the assessment with a view to take another view. Assessing Officer after considering all these points passed the assessment order dated 23rd March, 2016, accepting the fact that transfer has been established and there was proper acquisition of the Brands and Goodwill, as claimed by Petitioner. It is true that there is no detail reference to the query raised by the Assessing Officer during the assessment proceedings and the reply provided by the Assessee alongwith documentary evidence. But, once the query raised was subject to the consideration of the Assessing Officer, while completing the assessment, it is not necessary that the assessment order should contain reference and/ or discussion to disclose his satisfaction in respect of each of the query raised. If the Assessing Officer has to record the consideration bestowed by him on all issues raised during the assessment proceedings even where he is satisfied, then it would be impossible for the Assessing Officer to complete all the assessments which are required to be scrutinized by him under section 143 (3). Assessing Officer had in his possession all material facts when he made original assessment. When the primary facts necessary for assessment are fully and truly disclosed, the Assessing Officer is not entitled on change of the opinion to commence proceedings for re-assessment. Where on consideration of the 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. See Ananta Landmark (P.) Ltd.[2021 (10) TMI 71 - BOMBAY HIGH COURT] - reopening notice quashed - Decided in favour of assessee.
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