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2019 (1) TMI 865 - HC - Income TaxReopening of assessment - petitioner's claim for benefit of deduction u/s 80IB(10) - reopening beyond the period of four years - basis of the impugned notice is the Government approved Valuer's Certificate - assessment is completed by scrutiny under Section 143(3) - Held that:- It is a settled position in law that when an assessment is completed by scrutiny under Section 143(3) then a reopening notice beyond a period of four years is barred, unless there is a failure to disclose fully and truly all material facts necessary for assessment. This is in fact the mandate of the first provisio to Section 147. It is settled position of law that reopening of assessment is not to review the assessment order passed under Section 143(3). Therefore, no reopening is permissible on mere change of opinion. In the present facts, we note the reopening notice is issued beyond a period of four years from the end of the assessment year 2011-12 in respect of assessment completed under Section 143(3) of the Act. The basis of the impugned notice is the Government approved Valuer's Certificate dated 24th March, 2014. We note that this very certificate was a subject of consideration while passing the assessment order dated 25th March, 2014 under Section 143(3). The reason do not state that the above certificate dated 24th March, 2014 came to the notice of the AO after passing the Assessment Order dated 25th March, 2014. Thus, there is no failure to disclose all material facts truly and fully on the part of the petitioner during regular assessment proceedings. Thus, on the above ground itself, the impugned notice is bad. In the assessment order dated 25th March, 2014 under Section 143(3), the above certificate dated 24th March, 2014 was considered before passing the order. The impugned notice is an attempt to reopen an assessment completed under Section 143(3) of the Act based on the change of opinion. - Decided in favour of assessee.
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