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2020 (10) TMI 873 - AT - Income TaxReopening of assessment u/s 147 - case is reopened on the basis of information contained in audit objection - 'change of opinion' or 'fresh information' brought to the knowledge of AO - HELD THAT:- If there is an application of mind, it should be apparent from the material placed before the Tribunal. The VAT returns and details of purchases were available before the Assessing Officer at the time of original assessment proceedings under section 143(3) of the Act and no new material had come to the knowledge of the Assessing Officer to take recourse of the reassessment proceedings. Hence, it is merely a change of opinion and CIT (Appeals) has considered the issue in a right perspective. Even otherwise, as canvassed by AR that the tax effect is below the prescribed limit fixed by the CBDT and the Department should have not have filed appeal on this count. Thus confirm the order of the learned Commissioner of Income-tax (Appeals) that proceedings under section 147 of the Act are null and void and the addition is not sustainable. - Decided in favour of assessee.
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