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2022 (2) TMI 537 - HC - Income TaxValidity of reopening of assessment u/s 147 - change of opinion - HELD THAT:- Petition was admitted on 14th July, 2014. First of all we have to note that the Assessing Officer has relied upon the order of the special Bench of the ITAT in the case of DCIT vs. Times Guaranty Limited [2010 (6) TMI 516 - ITAT, MUMBAI] to form an opinion that Petitioner's income has escaped assessment and therefore it would be a fit case to reopen. This order of ITAT is dated 30th June, 2010 but the assessment of the Petitioner under section 143(3) of the Act was completed on 27th December, 2010. Therefore, the original Assessing Officer had the legal position with him but still proceeded to pass the assessment order. Therefore, this is a clear case of change of opinion which is not permissible - Decided in favour of assessee.
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