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PR. Commissioner of Income Tax, Gandhinagar Versus Patel Kantilal Jivramdas & Co.

2016 (3) TMI 831 - GUJARAT HIGH COURT

Reopening of assessment - ITAT upholding the decision of CIT(A) wherein annulled the re-opening of assessment proceedings by stating that it was a mere change of opinion based on the opinion/views of audit party - Held that:- As can be seen from the reasons recorded, all that is reflected therein is the opinion of the audit party that 0.5% should be considered as reasonable shortage and excess shortage should be disallowed and accordingly an excess shortage of 2.02% is required to be disallowed. .....

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argeable to tax has escaped assessment for any assessment year, he may reopen the assessment in terms thereof. Thus, it is the satisfaction of the Assessing Officer which is necessary for reopening the assessment. In the present case, on a plain reading of the reasons recorded, it is evident that no such satisfaction has been recorded by the Assessing Officer. The Commissioner (Appeals), therefore, rightly came to the conclusion that this is a case of clear change of opinion based on conjectures .....

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venue in this appeal under section 260A of the Income Tax Act, 1961 (hereinafter referred to as "the Act") has challenged the order dated 2nd February, 2015 made by the Income Tax Appellate Tribunal, Ahmedabad 'B Bench (hereinafter referred to as "the Tribunal") in ITA No.1957/Ahd/2011 by proposing the following question stated to be a substantial question of law:- [A] "Whether the ITAT has erred in law and on facts in upholding the decision of CIT(A) whereby CIT(A) .....

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r was taken up for scrutiny and assessment came to be framed under section 143(3) of the Act vide order dated 27th December, 2006 determining a total income of ₹ 2,99,980/-. Subsequently, the Assessing Officer reopened the assessment by issuing notice under section 148 of the Act on 22nd March, 2010. The reasons recorded for reopening the assessment read thus:- "The assessee has trading business in agriculture produces has shown shortage of 2.52% as against 0.0092% to 0.35% shown by o .....

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claimed by the assessee and added the same to the total income of the assessee. The assessee carried the matter in appeal before the Commissioner (Appeals) who allowed the appeal and held that the reopening in this case was a clear case of change of opinion based on conjectures, a case where no new information was there and a case where the opinion was not of the Assessing Officer but clearly of the audit party and accordingly, directed that the reassessment proceedings be annulled. Revenue car .....

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