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2023 (2) TMI 152 - ITAT DELHIReopening of assessment u/s 147 - reassessment after expiry of four years from the end of the relevant assessment year - cash payment in violation of section 40A(3) - HELD THAT:- Assessing Officer had no fresh tangible material in his possession while reopening the assessment under Section 147 of the Act. Apparently, revisiting the material available on record at the time of completion of original assessment, the Assessing Officer has initiated proceedings under Section 147 of the Act. Though, in the reasons recorded, the Assessing Officer has made a bald allegation regarding failure of the assessee in disclosing truly and correctly all material facts, however, there is no substance in such allegation. In course of original assessment proceedings, the Assessing Officer had specifically enquired into the details of payments made to Monad University and rent. In reply to the query raised, the assessee had furnished its reply vide letter dated 30.01.2017. Thus, it is evident, in course of the original assessment proceedings the Assessing Officer did make inquiry regarding the cash payment and took a conscious decision that no violation to section 40A(3) of the Act was made. That being the factual position emerging on record, in my view, the proceeding initiated under Section 147 of the Act is on a mere change of opinion, hence, amounts to review of the earlier assessment order. Conditions enshrined in proviso to section 147 of the Act, applicable to the impugned assessment year, are not satisfied. - Decided in favour of assessee.
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