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of The reopening of assessment proceedings u/s 147 was valid as the Assessing Officer (AO) had received information about the assessee booking tax loss through trade in shares, which could not be considered a mere change of opinion. The AO provided independent findings regarding trading in shares of M/s. Radhe Developers Ltd., and the assessee's objections were not tenable. The decisions in NDTV, Calcutta Discount, Parshuram Potteries, and Bombay Stock Exchange cases were not relevant as the reopening was specific to trading in M/s. Radhe Developers Ltd.'s scrip and not just a second opinion. However, the disallowance of loss in share trading was not sustained as the AO and CIT(A) did not correlate the trading with price fluctuations of M/s. Radhe Developers Ltd. or establish the assessee's involvement in price manipulation. The SEBI report and suspension of Bombay Stock Exchange in 2015 were not sufficient to disallow the loss in the assessment year 2011-12.
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