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2022 (6) TMI 957 - HC - Income TaxReopening of assessment u/s 147 - Change of opinion - Deduction under section 35 (1)(ii) to an extent of 175% of the donation - HELD THAT:- Indisputable fact that the assessment in the case of M/s. Jindal Aluminium Limited was completed even before the completion of the survey proceedings [though the assessment proceedings in the other two writ petitions are completed after the aforesaid survey] and the nature of the information shared by the petitioners' Account Officer, this Court must opine that the threshold bar for initiation of the reassessment proceedings is satisfied. This Court must conclude, at this stage, that the AO's subjective prima facie opinion, though is based on the records made available during the assessment proceedings, is because of further enquiry into the affairs of M/s. Herbicure, and this is not a case of 'change of opinion'. As regards the contention that the petitioners, whose only obligation in law once approval is granted under Section 35[1][ii] of the I-T Act is to file a copy of the approval and the details of the donations made, and if the approval is later withdrawn because of certain allegations against the entity which has granted approval, even if such approval is withdrawn retrospectively, the concluded assessment proceedings cannot be reopened, it would suffice for this Court to opine that this will have to be examined as part of the reassessment proceedings based on the further material that would be available on record by the petitioner and would not be a reason for interference at this threshold.
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