TMI Blog2021 (6) TMI 242X X X X Extracts X X X X X X X X Extracts X X X X ..... Ultimately the issue was resolved by the CIT(A) in favour of the assessee in the appellate proceeding. But it appears that during the reassessment proceeding, on the similar issue, the AO had given his different findings. This clearly demonstrates that the matter did came for due consideration before the Learned AO and was in fact considered. When during the original assessment proceeding upon considering all aspect of the matters and upon proper application of mind the determination of amount of taxable income was made and the tax paid thereon, in the absence of any error and/or mistake being found merely for the sake of giving different opinion the learned AO is not permissible to change the earlier opinion. Neither any new material a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) And Madhumita Roy, Member (J) For the Appellant : Harshit Bari, Sr. DR For the Respondents : Girish Agrawal and Nisha Lahoti, ARs ORDER Per Madhumita Roy, JM The instant appeal filed by the Revenue is directed against the order dated 24.09.2019 passed by Ld. CIT(A, Ujjain arising out of the order dated 14.12.2017 passed by ITO-2(1), Ujjain u/s. 143(3) of the Income Tax Act 1961(hereinafter referred to as 'Act') for Assessment Year 2010-11. 2. At the time of hearing of appeal Ld. DR submitted before us that the issue has rightly been reopened by the Ld. A.O u/s. 147 of the Act on the ground of calculation of capital gain, wherein the consideration of the sale of the property in question was taken less than ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s issued to calculate the capital gain on the sale of the said property as the sale consideration was less than the guideline value which tantamount to change of opinion when the transaction of sale of property and the long-term capital gain arising thereon has already been examined and the claim of deduction under section 54B of the Act has been disallowed in the proceeding under Section 143(3) of the Act. In support of his argument he has relied on the judicial pronouncements in the following matter; (i) CIT V/s. Kelvinator India Ltd. 320 ITR 561 (ii) ITO V/s. Techspan India (P) Ltd. (2018) 404 ITR 10(SC) (iii) Asteroids Trading Investment Pvt. Ltd. V/s. DCIT (2009) (iv) CITV/s Usha International Ltd. 348 ITR 484 ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . This clearly demonstrates that the matter did came for due consideration before the Learned AO and was in fact considered. When during the original assessment proceeding upon considering all aspect of the matters and upon proper application of mind the determination of amount of taxable income was made and the tax paid thereon, in the absence of any error and/or mistake being found merely for the sake of giving different opinion the learned AO is not permissible to change the earlier opinion. Neither any new material and/or information has been brought by the learned AO for reopening of assessment. 6. We have further considered the judgment relied upon by the Learned AR particularly in the matter of CIT V/s. Kelvinator India Ltd., repo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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