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2023 (7) TMI 24 - AT - Income TaxValidity of Reopening of assessment u/s 147 - Change of opinion - issues already examined in original assessment proceedings - HELD THAT:- In this case in the original assessment proceedings both the issues [for which the reopening proceeding initiated] were there and the assessee has furnished the necessary details and the order has been passed by the AO after making adjustment in the return of income u/s 143(3). Thereafter merely based on the audit objection, the assessment proceedings cannot be reopened merely on the same material which is already placed on record. We also noted that in the original assessment proceedings the issue related to the claim of the depreciation and interest paid on late payment of deposit of TCS is already forming part of the records. The issue raised by the Revenue is nothing but a change of opinion and the law does not permit the change of opinion on the same issue which has been examined by the ld. AO while passing the assessment order. As the issue on depreciation and interest payment has already been verified in the original assessment proceedings and the AO has already considered the claim of the assessee based on the submission placed before him. We also take note of the fact that in the reasons recorded in this case is that assessee has paid interest payment of TCS and claim on higher rate of depreciation is already decided based on the submission made by the assessee. Therefore, reopening is done merely based on the same material already on record. Decided in favour of assessee.
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