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The Tax PublishersW.P. (C) No. 11511/2016
2019 TaxPub(DT) 1756 (Del-HC)INCOME TAX ACT, 1961
Section 148
Where notice for reassessment was issued by AO under section 148, the same was issued without jurisdiction because assessee had showed absence of any new facts or law coming to notice of AO after passing assessment orders in regular assessment proceedings under section 143(3), therefore, reasons in support of notice, prima facie, indicated a change of opinion.
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Reassessment - Absence of any new facts or law coming to notice of AO - -
Assessee was issued notice for reopening of assessment under section 148 after the regular assessment was completed under section 143(3). AO alleged that during the course of the scrutiny assessment, queries were addressed to assessee with respect to certain amounts claimed towards misappropriation and alleged losses, which was sought to be adjusted in the taxable income and form the reasonable belief that income chargeable to tax had escaped assessment. Held: Admittedly, no fresh material/information was obtained by AO as the same did not find a mention in the reasons recorded in support of notice and was a change of opinion. In the case, prima facie assessee had shown absence of any new facts or law coming to notice of AO after he had passed assessment orders in regular assessment proceedings under section 143(3). Therefore, reasons in support of notice, prima facie, indicated a change of opinion.
Followed:CIT v. M/s. Kelvinator of India Ltd. (2010) 320 ITR 561 (SC) : 2010 TaxPub(DT) 1335 (SC) Calcutta Discount Company Ltd. v. ITO & Anr. (1961) 41 ITR 191 (SC) : 1961 TaxPub(DT) 0130 (SC)
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
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