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2019 (2) TMI 1331 - HC - Income TaxReopening of assessment - reopening beyond a period of four years from the end of the relevant assessment year - HELD THAT:- In the absence of any failure on the part of the petitioner to disclose fully and truly all material facts necessary for assessment, the reopening of assessment under section 147 of the Act beyond a period of four years from the end of the relevant assessment year is invalid. The record of the case reveals that at the time of scrutiny assessment, the AO had gone into this very issue of interest on NPA and had made addition in that regard, which had been carried in appeal before the CIT (Appeals) and in further appeal before the Tribunal. Therefore, it is evident that the AO seeks to reopen the assessment on a mere change of opinion inasmuch as, at the time of scrutiny assessment, AO had applied his mind to the issue and even recorded finding in respect thereof in the assessment order framed under section 143(3) - the assessment order has merged with the order passed by the CIT (Appeals) and the Tribunal and hence also, the reopening of the assessment on this very ground is without authority of law. Lastly, even on merits, the issue stands concluded in favour of the assessee by the above cited decision of this court, which has been confirmed by the Supreme Court and hence, on the reasons recorded for reopening the assessment, the AO could not have formed the belief that any income chargeable to tax has escaped assessment. The impugned notice under section 148 of the Act, therefore, cannot be sustained. - Decided in favour of assessee.
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