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2022 (3) TMI 723 - AT - Income TaxReopening of assessment u/s 147 - Eligibility of reasons to believe - eligibility of 80HHC deduction - HELD THAT:- In this case it is a fact that, in the reasons recorded for reopening, the assessing officer has not alleged that assessee has failed to disclose material facts truly and fully. It is also a fact that reopening has been done based on the record already available at the time of original assessment order. No new information has been received by the AO - CIT(A) in his order has demonstrated that during original assessment order the assessing officer has considered income on account of financial activity while calculating 80HHC deduction. Before us, the AR filed copy of submission dated 10/01/2006 filed by the Assessee during the original assessment proceeding before the assessing officer Addl.CIT Range 8 - The assessee had submitted all the details during original assessment proceedings. Therefore, the reopening is merely based on Change of Opinion. Therefore, in the case of Titanor Components Ltd. [2011 (6) TMI 138 - BOMBAY HIGH COURT] and assessee's own case [2013 (12) TMI 1725 - ITAT PUNE] it is held that notice under section 148 of the Act is bad in law and therefore, the consequential re-assessment is hereby by cancelled. Thus, the grounds of appeal by Revenue are dismissed.
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