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2023 (3) TMI 466 - AT - Income TaxReopening of assessment u/s 147 - revise the rate of depreciation allowable on the software capitalized by the AO - CIT(A) dismissing the appeal of the Assessee under impression that the Assessee has settled the dispute under Vivad se Vishwas scheme - AO had allowed depreciation @ 60% in the original assessment proceedings and the reopening of assessment was done only to restrict the rate of depreciation to 25% - whether the decision of AO to revise the depreciation can be said to be mere change of opinion? - HELD THAT:- As relying on INDIAN ENERGY EXCHANGE LIMITED case [2022 (4) TMI 636 - BOMBAY HIGH COURT] we hold that the assessing officer has reopened the assessment of the year under consideration on mere change of opinion only and the same is not permitted under the law. Accordingly, we hold that the reopening of assessment is bad in law and accordingly the impugned assessment order is liable to be quashed. Accordingly, we quash the orders passed by the tax authorities - Appeal of the assessee is allowed.
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