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| The Tax Publishers2020 TaxPub(DT) 3702 (Ctk-Trib) INCOME TAX ACT, 1961
Section 147
Reopening of assessment without there being any failure on part of assessee to disclose fully and truly all the material facts was nothing but mere change of opinion and, therefore, reassessment was quashed as invalid.
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Reassessment - Validity - Change of opinion by AO -
AO reopened assessment so as to disallow payment made to foreign parties for want of TDS under section 195. Assessee challenged this on the ground of change of opinion by AO. Held: There was nothing to suggest that all the primary facts were not disclosed by assessee at the time of original assessment completed under section 143(3) nor any failure on part of assessee to disclose fully and truly all the material facts had been ascribed.As there was no new tangible materials, it was a case of change of opinion. Accordingly, reassessment framed by AO was invalid.
Followed:CIT v. Kelvinator of India Ltd., (2010) 320 ITR 561 (SC) : 2010 TaxPub(DT) 1335 (SC)DISTINGUISHED CIT v. P.V.S. Beedies (P) Ltd. (1999) 237 ITR 13 (SC) : 1999 TaxPub(DT) 0225 (SC) NK. Industries Ltd. v. ITO (2014) 49 taxmann.com 216 (Guj)
REFERRED :
FAVOUR : In assessee's favour
A.Y. : 2011-12
IN THE ITAT, CUTTACK BENCH
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