https://www.taxtmi.com/highlights?id=64150 Reopening of assessment u/s 147 - eligibility of reasons to believe - change of opinion - nowhere AO has been able to make out a case that there was any omission or failure on the part of the petitioner to disclose fully and truly the necessary material facts - if at all there was any clerical/arithmetical mistake apparent from record then recourse was available to the assessing officer by way of rectification under Section 154 of the Income Tax Act, 1961 and that cannot be a ground of reopening of an assessment for correcting a mistake in calculation of an amount of disallowance causing alleged escapement of income. - HC en-us Sat, 18 Jun 2022 12:21:22 +0530 Sat, 18 Jun 2022 12:21:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=64150 Reopening of assessment u/s 147 - eligibility of reasons to believe - change of opinion - nowhere AO has been able to make out a case that there was any omission or failure on the part of the petitioner to disclose fully and truly the necessary material facts - if at all there was any clerical/arithmetical mistake apparent from record then recourse was available to the assessing officer by way of rectification under Section 154 of the Income Tax Act, 1961 and that cannot be a ground of reopening of an assessment for correcting a mistake in calculation of an amount of disallowance causing alleged escapement of income. - HC Highlights Income Tax Sat, 18 Jun 2022 12:21:22 +0530 https://www.taxtmi.com/highlights?id=64150