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2022 (12) TMI 294 - HC - Income TaxReopening of assessment u/s 147 - objections to the reasons recorded - Notice beyond four years - treatment of share of profit in capacity of partner - HELD THAT:- AO had considered the very issue in respect of which subsequently he issued notice under section 148 seeking to reopen the assessment. The assessment order passed by assessing authority also reflected consideration of the same. Therefore, there was no basis for re-opening of the reassessment. It is trite principle that change of opinion could not be a ground to resort to reopening of process. AO in the present case could be said to have any new facts discovered to justify the re-opening. If it was a mere change of opinion on the part of the AO in issuing the order such course was not permissible in law. The entire assumption of jurisdiction to reopen the assessment was without any factual and legal basis. The present case offers a situation where powers u/s 148 of the Act were invoked after four years. Notice was issued on 30.3.2021 seeking to re-open the Assessment for the financial year 2014-2015. In the facts obtained in this case, there is nothing to suggest that the assessee had not disclosed fully and truely all material facts necessary for the assessment, rather it was otherwise. On that count itself, the notice was rendered bad.
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