Food import sampling requirements support provisional release where unseized consignments conform to standards and raw areca classification is unestab...
Diagnostic microcuvette classification follows sole-use analytical function, placing specialised disposable cuvettes with their analyser rather than g...
Customs Broker licensing proceedings fail when their offence-report foundation collapses and authorisation, advisory, and KYC duties remain unbreached...
Tariff classification of Digital Axle Counters affirmed as electro-mechanical railway signalling equipment, eliminating duty, confiscation and penalty...
The case pertains to the reopening of assessment u/s 147 of the Income Tax Act. The key points are: The department had already raised queries regarding the accumulation and utilization of funds for different purposes during the original assessment proceedings in 2011. The assessee had provided explanations, which were accepted by the Assessing Officer (AO) at that time. The notice for reopening assessment in 2016 was based on the same issue, which amounts to a mere change of opinion by the AO, not permissible for reopening under the 6-year limitation period. The court relied on precedents like Kelvinator of India and Marico Limited to conclude that once an issue is raised and responded to during assessment, the AO is deemed to have accepted the assessee's explanation if not dealt with in the order. Therefore, the reopening notice was held invalid, being a case of change of opinion, and the assessee's appeal was allowed.
The case pertains to the reopening of assessment u/s 147 of the Income Tax Act. The key points are: The department had already raised queries regarding the accumulation and utilization of funds for different purposes during the original assessment proceedings in 2011. The assessee had provided explanations, which were accepted by the Assessing Officer (AO) at that time. The notice for reopening assessment in 2016 was based on the same issue, which amounts to a mere change of opinion by the AO, not permissible for reopening under the 6-year limitation period. The court relied on precedents like Kelvinator of India and Marico Limited to conclude that once an issue is raised and responded to during assessment, the AO is deemed to have accepted the assessee's explanation if not dealt with in the order. Therefore, the reopening notice was held invalid, being a case of change of opinion, and the assessee's appeal was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4888 
