Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2023 (6) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (6) TMI 1292 - HC - Income TaxReopening of assessment u/s 147 - notice after a period of four years - Reasons to believe - Whether case reopened on account of ‘change of opinion’? - HELD THAT:- As the principle of change of opinion cannot be a basis for reopening completed assessments where AO has applied his mind and taken a conscious decision on a particular matter in issue. Moreover, the decision of the AO u/s 143(3) dated 22nd December 2017 is against the Petitioner who has filed an appeal therefrom that is pending adjudication before the CIT (A). A perusal of the reasons recorded by Respondent No. 1 indicates that the Respondent No. 1 has relied upon facts and figures available from the audited account. It appears that there was no tangible material available on record to conclude that income had escaped assessment. The ratio in the case of Ananta Landmark [2021 (10) TMI 71 - BOMBAY HIGH COURT] is clearly applicable to the facts of this case. Thus AO has acted in excess of the limit of his jurisdiction to reopen the assessment in the exercise of powers under section 147 r.w.s. 148 of the Act. Decided in favour of assessee.
|