2022 (11) TMI 382 - AT - Income Tax
Reopening of assessment u/s 147 - Notice beyond the period of four years - HELD THAT:- The reopening is only a change of opinion and no new tangible material came to the notice of the Assessing Officer to come to a different conclusion and thus, the change of opinion is not permissible in law as per the judgement of CIT v. Kelvinator of India Ltd. [2010 (1) TMI 11 - SUPREME COURT] Moreover, when the assessment is reopened after four years from the end of the relevant assessment year under consideration, AO has to establish that there is a failure on the part of the assessee to disclose fully and truly all material facts to complete the assessment.
In this case, AO has failed to establish that there is a failure on the part of the assessee and therefore, the reopening of the assessment is invalid and bad in law. In view of the above facts and circumstances and respectfully following the decision of the Coordinate Benches of the Tribunal in assessee’s own case for the assessment year 2008-09, we sustain the appellate order passed by the ld. CIT(A) in quashing the assessment order passed under section 143(3) r.w.s. 147 - Thus, the grounds raised by the Revenue are dismissed.