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2022 (2) TMI 706 - HC - Income TaxReopening of assessment u/s 147 - Notice issued after the expiry of four years from the end of the assessment year - allowability of franchisee fee paid by petitioner to BCCI as revenue expenditure - HELD THAT:- To a specific query raised by respondent no.1, petitioner by its said letter dated 17th November 2014 also submitted a statement received from the BCCI for sharing of the central rights income which was to be shared with petitioner, wherein BCCI adjusted the amount that was payable by petitioner to BCCI on account of IPL played during the year and thereafter, paid the balance amount to petitioner. Final appeal has been disposed by ITAT vide its order pronounced on [2020 (12) TMI 1058 - ITAT MUMBAI] holding that the franchisee fee paid by petitioner to BCCI was revenue expenditure and directed the Assessing Officer to delete the addition. All figures were all available before the AO, who has considered the same and after applying his mind, passed the original assessment order dated 26th March 2015. Therefore, in our considered view, the reason to reopen on change of opinion, which as held by this Court, the Apex Court and many other Courts, is not permissible. We will have to hold that the AO had in his possession all primary facts and it was for him to make necessary enquiries and draw proper inference, which he did. AO had all materials facts before him when he made the original assessment. When the primary facts necessary for assessment are fully and truly disclosed, the Assessing Officer is not entitled on change of opinion to commence proceedings for reassessment. Even if the AO who passed the assessment order, may have raised too many legal inferences from the facts disclosed, on that account the Assessing Officer, who has decided to reopen assessment, is not competent to reopen assessment proceedings. 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. - Decided in favour of assessee.
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