Crisil Ltd. v. Addl. CIT - Taxpublishers.in

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The Tax PublishersITA No. 573/Mum/2008 2012 TaxPub(DT) 0138 (Mum-Trib) : (2011) 061 DTR 0338 INCOME TAX ACT, 1961 --Reassessment--Change of opinionAnother view taken in subsequent assessment year confirmed by Commissioner (Appeals)--AO reopened the assessment under section 147 on the ground that another view taken by him in subsequent year had been confirmed by Commissioner (Appeals). Assessee contended that reassessment had been stated on mere change of opinion. *Held:* ,/b>AO had gone through detailed material before him in the course of scrutiny assessment proceedings and after even seeking clarification on certain points, made up his mind to allow certain deductions for depreciation, but once he realized that another view taken in subsequent assessment year had met the approval of Commissioner (Appeals), he canged his mind to take the other view for this assessment year as well. Such a re-opening of assessment on mere change of opinion was not permissible under the main provision of section 147. Income Tax Act, 1961, Section 147 IN THE ITAT, MUMBAI 'K' BENCH PRAMOD KUMAR, A.M. & V. DURGA RAO, J.M. Crisil Ltd. v. Addl. CIT ITA No. 573/Mum/2008 A.Y. 2001-02 30 April, 2010 Appellant by : Kanchan Kaushal, Respondent by : Deepak Sutaria, ORDER *Pramod Kumar, A.M* This is an appeal filed by the assessee and is directed against the order dt. 29-11-2007 passed by the learned Commissioner (Appeals), in the matter of assessment under section 143(3) read write section 147 of the Income Tax Act, 1961, for the assessment year 2001-02. 2. In the first ground of appeal, the assessee has raised the following grievance : 'On the facts and in the circumstances of the case and in law, Hon'ble Commissioner (Appeals) has erred in rejecting the plea of the appellant that the' assessment order under section 143{3) read write section 147 of the Income Tax Act, 1961 (the Act) is bad in law.' SUBSCRIBE FOR FULL CONTENT

The Tax PublishersITA No. 573/Mum/2008
2012 TaxPub(DT) 0138 (Mum-Trib) : (2011) 061 DTR 0338

INCOME TAX ACT, 1961

--Reassessment--Change of opinionAnother view taken in subsequent assessment year confirmed by Commissioner (Appeals)--AO reopened the assessment under section 147 on the ground that another view taken by him in subsequent year had been confirmed by Commissioner (Appeals). Assessee contended that reassessment had been stated on mere change of opinion. Held: ,/b>AO had gone through detailed material before him in the course of scrutiny assessment proceedings and after even seeking clarification on certain points, made up his mind to allow certain deductions for depreciation, but once he realized that another view taken in subsequent assessment year had met the approval of Commissioner (Appeals), he canged his mind to take the other view for this assessment year as well. Such a re-opening of assessment on mere change of opinion was not permissible under the main provision of section 147.

Income Tax Act, 1961, Section 147

IN THE ITAT, MUMBAI 'K' BENCH

PRAMOD KUMAR, A.M. & V. DURGA RAO, J.M.

Crisil Ltd. v. Addl. CIT

ITA No. 573/Mum/2008

A.Y. 2001-02

30 April, 2010

Appellant by : Kanchan Kaushal,

Respondent by : Deepak Sutaria,

ORDER

Pramod Kumar, A.M

This is an appeal filed by the assessee and is directed against the order dt. 29-11-2007 passed by the learned Commissioner (Appeals), in the matter of assessment under section 143(3) read write section 147 of the Income Tax Act, 1961, for the assessment year 2001-02.

2. In the first ground of appeal, the assessee has raised the following grievance :

'On the facts and in the circumstances of the case and in law, Hon'ble Commissioner (Appeals) has erred in rejecting the plea of the appellant that the' assessment order under section 143{3) read write section 147 of the Income Tax Act, 1961 (the Act) is bad in law.'