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| The Tax Publishers2019 TaxPub(DT) 0907 (Bom-HC) : (2019) 418 ITR 0139 : (2019) 310 CTR 0570 INCOME TAX ACT, 1961
Section 148
Reassessment notice in case of assessee based on order of AO of third party could not be sustained as such assessment was based on documents which were already part of assessment in assessee's case and AO could not be permitted to review his own conclusions formed during original assessment after full examination,
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Reassessment - Notice under section 148 - Reason, contrary opinion formed by AO of party having dealt with assessee - Change of opinion
AO issued notice under section 148 seeking to reopen assessment for the reason that on the basis of order passed by AO of 'M Ltd.' income chargeable to tax in assessee's hands had escaped assessment.Held: As apparent, assessment in case of 'M Ltd.' was based on the documents which were already part of the assessment in case of assessee. At best, therefore, opinion formed by AO of Morarjee Textiles could be seen to be another view point which might also be valid. However, formation of opinion by another AO on the same set of documents and materials could not give justifiable ground to AO to review his own conclusions formed during original assessment after full examination. Accordingly, issuance of notice under section 148 amounted to mere change of opinion, therefore, reassessment notice was set aside.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. :
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