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2019 (8) TMI 1336 - HC - Income TaxReopening of assessment u/s 147 - original assessment u/s 143(3) - change of opinion - HELD THAT:- There was no failure by the Petitioner to fully and disclose all the material facts for assessment as regards the reasons supplied under notice for reassessment. The power to reopen the assessment is not a power to review, and this power cannot be used to review because there is a change of opinion by the AO. On both counts, there is no application of mind by the AO to the jurisdictional requirements. First, to the existence of failure of the assessee to disclose all material facts for assessment since the assessment was sought to be reopened after four years as it is not so mentioned in the reasons supporting the notice for reassessment. Second, factually, there has been no failure by the Petitioner to fully and truly disclose the material facts. The reasons in support of the notice of reassessment mention the areas in which reassessment needs to be carried out, and the record shows that material regarding these topics was called for over two occasions from the Petitioner and was supplied. Although the Petitioner had a remedy of statutory appeal since the order is without jurisdiction and contrary to the settled position of law, it requires to be quashed and set aside. We hold and declare that the Respondents had no jurisdiction to issue the impugned notice, consequently, the impugned order rejecting the objections is also without jurisdiction.
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