TMI Blog2008 (7) TMI 954X X X X Extracts X X X X X X X X Extracts X X X X ..... tice of the AO, to enable him to form a requisite belief, that any particular income has escaped assessment, which was liable to be assessed. we again pointedly asked the learned counsel for the Revenue to point out, as to how these findings are wrong, and to show even to us, if there is any material, which might have come to the notice of the AO subsequently, but the learned counsel for the Revenue could not point out any one. That being the position, in our view, it was rightly found by the learned CIT(A), and the learned Tribunal, that it was merely a change of opinion on the part of the learned AO, about admissibility of claim of depreciation on tractors, and in view of the judgment of Hon'ble the Supreme Court, in CIT vs. Bhanji ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under s. 148 was issued, as the AO was of the opinion, that there was under-assessment of income, inasmuch as the depreciation claimed by the assessee on tractor, which are agricultural implement, and was allowed to the assessee, whereas it is agricultural implement, and any deduction whatsoever, if any admissible, is admissible against the agricultural income. In response to this notice a return was filed, and the learned AO made best judgment vide order dt. 22nd Dec., 1998, and held, that the assessee has claimed depreciation on two tractors owned by her on the ground that she has income from tractor hiring while there is no evidence that the tractor was ever plied for commercial purposes, and that the tractor is an agricultural machiner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r forming the belief, that there was any income chargeable to tax has escaped assessment. Full facts in respect of depreciation on tractors were disclosed in the original return, which was processed under s. 143(1)(a), after compliance of deficiency letter, and that, merely after re-appreciation of relevant facts on record, which were already there while furnishing original return, had issued the notice under s. 148, which was nothing but a change of opinion. Learned CIT(A) also recorded that he had seen the reasons given by the learned AO for initiating reassessment proceedings before issuance of notice under s. 148, and the learned CIT(A) was of the view, that the AO was not justified in reopening the already completed assessment, as ther ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that in subsequent years also it was allowed. Thus, it was found that reopening of the assessment, only on the basis for depreciation was wrongly claimed and allowed, was nothing but a mere change of opinion, which cannot be a basis for initiating action under s. 148. The learned Tribunal also relied upon the judgment of Hon'ble the Supreme Court in CIT vs. Bhanji Lavji's case (supra). Thus, the appeal of the Revenue was dismissed, and the appeal of the assessee being only protective, was also dismissed. 8. Assailing the impugned order it was contended, that the question of sufficiency of reasons for initiation of reopening proceedings could not be gone into by the learned CIT(A), and the learned Tribunal, as it was a matter of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of the failure of the appellant to fully and truly disclose material facts. On these facts it was found, that there it is not a case of mere change of opinion, or the drawing of a different inference from the same facts, as were earlier available, but acting on fresh information coming to the notice of the AO subsequently, which led to form a requisite belief that the income chargeable to tax had escaped assessment. In this background it was held, that sufficiency of reasons for forming the belief is not for the Court to judge. 12. The precise question, therefore is, as to whether in the present case, any subsequent information, or material have come to the notice of the AO, to enable him to form a requisite belief, that any particular ..... X X X X Extracts X X X X X X X X Extracts X X X X
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