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2023 (6) TMI 674 - BOMBAY HIGH COURTValidity of reopening of assessment u/s 147 - Change of opinion - issues already raised while completing the assessment - HELD THAT:- Since query had been raised during the assessment proceedings and the assessee had replied to it, as held in Aroni Commercials Ltd. [2014 (2) TMI 659 - BOMBAY HIGH COURT] it follows that the query raised was a subject of consideration of the AO while completing the assessment. Infact it was so and the issue of PMS relating to Grasim Industries Ltd. has been raised by the AO during the assessment proceedings, detailed reply has been furnished and has been dealt with in detail in the assessment order. Therefore, this reopening of assessment, in our view, is merely on the basis of change of opinion of the Assessing Officer and that does not constitute justification and/or reasons to believe that income chargeable to tax has escaped assessment. Also notice of reopening has been issued after the expiry of four years from the end of the relevant assessment year. U/s 148 where the notice has been issued after the expiry of four years from the end of the relevant assessment year, the onus is on the AO to show that income chargeable to tax has escaped assessment by reason of the failure on the part of assessee to disclose fully and truly all material facts necessary for its assessment for that assessment year. There is not even a whisper in the reasons to believe that there was any such failure on the part of petitioner to disclose fully and truly all material facts necessary for its assessment. Decided in favour of assessee.
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