TMI Blog2022 (1) TMI 1392X X X X Extracts X X X X X X X X Extracts X X X X ..... legal inferences from the facts disclosed, on that account the AO who has decided to reopen assessment, is not competent to reopen assessment proceedings. Where on consideration of material on record, one view is conclusively taken by the AO, it would not be open to reopen the assessment based on the very same material with a view to take another view. We also find from the records filed with the petition that a specific query had been raised by the AO and he had sought from petitioner pending details of reconciliation of ITS Information and petitioner had also replied to the same. It is settled law that once a query is raised during the assessment proceedings and the assessee has replied to it, it follows that the query raised was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns for re-opening, it is stated It is seen from the records kept in scrutiny assessment folder that in the Profit and Loss A/c the assessee has shown total sell of service charges of Rs. 188,09,25,428/- and other income of Rs. 17,16,10,657/- which also includes Bank interest income of Rs. 3,03,10,456/-. Even if rate of TDS is assumed to be @2% the total matching income of the assessee corresponding to TDS credit excluding TDS on interest income (TDS rate on other income of Rs. 4.42 crores has been assumed @10% Rs. 44,20,372/-) should have been approximately Rs. 1275,09,05,250/-. It is seen from the statement of 26AS reconciliation for FY 2011-12 submitted by the assessee as Annexure 6 to the its submission that it has shown reconciliatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reopen assessment, is not competent to reopen assessment proceedings. Where on consideration of material on record, one view is conclusively taken by the Assessing Officer, it would not be open to reopen the assessment based on the very same material with a view to take another view. 4. We also find from the records filed with the petition that a specific query had been raised by the Assessing Officer and he had sought from petitioner pending details of reconciliation of ITS Information regarding AIR/CIB/26AS and petitioner had also replied to the same. Copies of these communications dated 4th March, 2016 and 10th March, 2016 are annexed to the petition at Exhibit B and Exhibit C respectively. It is settled law that once a query is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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