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2024 (3) TMI 39 - HC - Income TaxValidity of Reopening of assessment - reasons to believe - reliance on audit objection - treatment to be given for the corpus fund and whether this income of the corpus fund received by the petitioner in the relevant assessment year is exempt under Section 11 or not - HELD THAT:- In the present case, the provisions have been drastically changed with effect from 01.04.2022, and the audit objection is one of the reasons for reopening the assessment. If the revenue audit raises an objection that the assessment was not completed in accordance with the provisions of the Act, it cannot be treated as a change of opinion because this is the statutory prescription and statutory ground/reason for re-opening the assessment. Assessing Authority has proceeded strictly in accordance with the provisions of Clause (ii) of Explanation 1 to Section 148 of the Act. Therefore, find no error of law or jurisdiction in the impugned order. Therefore, the writ petition is dismissed. If the petitioner has not filed the return of his income in pursuance of the notice dated 07.02.2023 in Ext. P8, the petitioner may file his return within a period of four weeks.
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