TMI Blog2014 (9) TMI 789X X X X Extracts X X X X X X X X Extracts X X X X ..... sclose of all material facts - at the time of original assessment, the AO had gone into the question of interest accrued while computing income under MAT - the AO had formed an opinion and had accordingly computed the income under the applicable provisions - The assessment order may be wrong, but then it could have been corrected if it was erroneous and prejudicial to the interest of the Revenue u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from the end of the assessment year and the original assessments were made on Minimum Alternative Tax (MAT) under Section 115JB after scrutiny under Section 143(3) of the Act. 2. The Income Tax Appellate Tribunal (Tribunal, for short) in the impugned order has not examined and answered merits, but has set aside the re-assessment notice/order on two grounds that it is a case of change of opinio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... est, forming part of total income, should have been included in the total income while calculating income u/s. 115JA of the Act, 1961. Thus, in the reasons recorded, Revenue has itself accepted that on the basis of the returns submitted by the assessee and disclosure made therein, AO has reduced interest which was not provided in the books. Thus, AO had earlier made a conscious decision and now it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions and deletions to the books profit. Hence, now the AO is resorting to change of opinion on the same set of facts which is not sustainable. 3. It is clear from the reading of the said paragraphs that at the time of original assessment, the Assessing Officer had gone into the question of interest accrued while computing income under MAT. Thus, the Assessing Officer had formed an opinion and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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