2025 (9) TMI 1256 - SCH - Income Tax

Special leave petition dismissed; reopening assessment under Section 147 beyond four years held mere change of opinion, jurisdiction absent

Assistant Commissioner of Income Tax & Ors. Versus Genesys International Corp. Limited.

SC dismissed the special leave petition upholding the HC's finding that reopening assessment under s.147 by issuing notice beyond four years amounted to ... Reopening of assessment u/s 147 - notice issued beyond period of four years - reasons to believe - Claim of deductions u/s 10AA - As decided by HC [2025 (3) TMI 1286 - BOMBAY HIGH COURT] Jurisdictional parameters for reopening the assessment beyond 4 years cannot be said to have been satisfied in this case. This was nothing but the case of mere change of opinion. It is well settled that proceedings to reopen an assessment are not akin to review proceedings. This is also not a case where there was any failure on the petitioner’s part to disclose fully and truly all material facts necessary for the assessment HELD THAT:- Having heard the learned counsel appearing for the petitioners and having gone through the materials on record, we find no good ground to interfere with the impugned order passed by the High Court. Special Leave Petition is, accordingly, dismissed. 'Delay condoned.' Petitioners' counsel heard and record materials reviewed. The Court found 'no good ground to interfere with the impugned order passed by the High Court.' On that basis, 'The Special Leave Petition is, accordingly, dismissed.' All pending application(s) stand disposed of. The decision rests on appellate restraint where the High Court's order was not shown to warrant interference on the materials before this Court.