TMI Blog2019 (2) TMI 1331X X X X Extracts X X X X X X X X Extracts X X X X ..... l before the CIT (Appeals) and in further appeal before the Tribunal. Therefore, it is evident that the AO seeks to reopen the assessment on a mere change of opinion inasmuch as, at the time of scrutiny assessment, AO had applied his mind to the issue and even recorded finding in respect thereof in the assessment order framed under section 143(3) - the assessment order has merged with the order passed by the CIT (Appeals) and the Tribunal and hence also, the reopening of the assessment on this very ground is without authority of law. Lastly, even on merits, the issue stands concluded in favour of the assessee by the above cited decision of this court, which has been confirmed by the Supreme Court and hence, on the reasons recorded for re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e details from time to time. A specific query was raised regarding interest on Non-Performing Assets (NPA) and eventually, the respondent made addition of ₹ 61,08,604/- under section 43D of the Act on account of accrued interest of NPA in the assessment order dated 22.01.2014 under section 143(3) of the Act. Against the assessment order, the petitioner preferred an appeal before the Commissioner of Income Tax (Appeals), who, by an order dated 02.06.2014 dismissed the appeal and upheld the addition. The petitioner carried the matter in further appeal before the Income Tax Appellate Tribunal, which, by an order dated 30.11.2017, allowed the appeal. It appears that the order of Income Tax Appellate Tribunal was not challenged by the reve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s further pointed out that the Assessing Officer seeks to reopen the assessment on the ground that ₹ 3,90,22,094/- being interest receivable on NPA had accrued during the year but had not offered by the petitioner for taxation. The attention of the Court was invited to the notice issued by the Assessing Officer at the time of regular assessment to point out that during the course of such proceedings, the Assessing Officer had specifically called upon the petitioner to state as to why the interest credited during the year of NPA should not be treated as income by virtue of section 43D of the Act. It was pointed out that in response thereto, the petitioner had furnished all details in that regard and that after due application of mind t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd, Mrs. Mauna M. Bhatt, learned Senior Standing Counsel for the respondent has reiterated the grounds set out in the affidavit-in-reply filed on behalf of the respondent. 8. In the present case, it is an admitted position that the impugned notice under section 148 of the Act has been issued beyond a period of four years from the end of the relevant assessment year and hence, the first proviso to section 147 of the Act would be attracted. A perusal of the reasons recorded reveals that the Assessing Officer has placed reliance upon the material available on record for the purpose of reopening the assessment. Therefore, in the absence of any failure on the part of the petitioner to disclose fully and truly all material facts necessary for ..... X X X X Extracts X X X X X X X X Extracts X X X X
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