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2022 (2) TMI 298 - HC - Income TaxReopening of assessment u/s 147 - Eligibility of reasons to believe - reopening beyond the periods of years - HELD THAT:- Since the notice issued is after expiry of four years from the end of the relevant assessment year and assessment under Section 143(3) of the Act was completed, proviso to Section 147 of the Act shall apply. Respondent has to first show that there was failure on the part of petitioner to fulfill and there are non-disclosure of material facts required for assessment. As considered the reasons annexed at Exhibit ‘F’ to the petition. In our view, respondent has miserably failed to disclose any facts, material or otherwise which has not been disclosed. In our view, first of all the reasons indicated change of opinion which is impermissible in law and secondly, the entire basis for re-opening is due to mistake of the Assessing Officer that resulted in under assessment. Hon’ble Apex Court in Indian & Eastern Newspaper Society [1979 (8) TMI 1 - SUPREME COURT] has held that an error discovered on a reconsideration of the same material (and no more) does not give power to the Assessing Officer to re-open the assessment. - Decided in favour of assessee.
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