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2014 (11) TMI 67 - ITAT KOLKATAValidity of notice for reopening of assessment u/s 147 r.w. section 148 – Jurisdiction of AO – Mere change of opinion – No new tangible material available to AO - Held that:- The assessment order that the assessee produced complete details of purchases i.e. purchase statement – the reopening is on scrutiny of assessment records - the findings of AO now rejecting the objections of the assessee recording reasons for assumption of jurisdiction u/s. 147 of the Act and reasons recorded are contradictory - nothing new tangible material was available before the AO for reopening the assessment and consequently, the AO acted on the same material, which was available before him at the time of original assessment – following the decision in CIT Vs. Kelvinator India Ltd. [2010 (1) TMI 11 - SUPREME COURT OF INDIA] - section 147 of the Act, as substituted w.e.f. 01.04.1989 does not postulates conferment of power upon the AO to initiate reassessment proceeding upon his mere change of opinion - It cannot be accepted that only because in the assessment order, detailed reasons have not been recorded, an analysis of Munshi Mini Rice Mill AY 2007-08 the materials on the record by itself may be justifying the AO to initiate a proceeding u/s. 147 of the Act - When a regular order of assessment is passed in terms of section 143(3) of the Act, a presumption can be raised that such an order has been passed on application of mind – the reopening u/s. 147 r.w.s. 148 of the Act is to be set aside – Decided in favour of assessee.
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