TMI Blog2022 (5) TMI 340X X X X Extracts X X X X X X X X Extracts X X X X ..... s to the assessee seeking reasons for decline in the gross profit. The Respondent/assessee vide replies dated 22nd January, 2009 and 09 th February, 2009 had stated that decline in gross profit was due to the rent of Mumbai Branch premises and rent of A Barracks and provisions for pay revision. Subsequently, the Assessing Officer had issued notice under Section 154 of the Act on the issue of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Appellant Through: Ms. Vibhooti Malhotra, senior standing counsel with Mr. Shailendra Singh, Advocate. Respondent Through: None J U D G M E N T MANMOHAN, J (Oral) 1. Present Income Tax Appeal has been filed challenging the Order dated 31st August, 2019 passed by the Income Tax Appellate Tribunal ( ITAT ) in ITA No. 1781/Del/2015 for the Assessment Year 2007-08. 2. Learned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n to believe does not mean a mere change of opinion as the Assessing Officer has no power to review but he/she has the only power to re-assess. 5. The Supreme Court in Commissioner of Income Tax, Delhi vs. Kelvinator of India Limited, (2010) 2 SCC 723 has held that the concept of change of opinion is an in-built test to check abuse of power by the Assessing Officer. It has further held t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her Provisions , which included the rent of A Barracks of Rs. 4.19 Crores. 8. Keeping in view the aforesaid facts, this Court is of the view that the issue of rent of A Barracks was within the knowledge of the Assessing Officer when he had passed the original assessment order as well as the subsequent order under Section 154 of the Act. Consequently, this Court is in agreement with the opin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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