2010 (12) TMI 772

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....tions of the petitioner. Petitioner has further sought a writ of mandamus directing the respondents to drop all subsequent assessment proceedings for the assessment year 2005-06. 3. According to the petitioner, the petitioner company is engaged in the business of providing services and facilities in connection with exploration and extraction of and production of mineral oils. The petitioner company filed original return of income for the assessment year 2005-06 on 31-1-2005 declaring total income of Rs. 30,626,953 under the normal provisions of the Act offering its gross revenue for tax under section 44BB of the Act. The Assessing Officer issued notice under section 143(2) of the Act and initiated assessment proceedings. The petitioner f....

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.... same income which was subject-matter of earlier assessment order passed under section 143(3) of the Act and that change of opinion is not permissible in view of a Division Bench judgment rendered by Delhi High Court in the case of D.T. & T.D.C. Ltd. v. Asstt. CIT [2010] 324 ITR 234 wherein in paragraph 10 the following observations have been made:- "10. The position that a mere change of opinion would not entitle an Assessing Officer to reopen a completed assessment is well settled. The latest decision being of the Supreme Court in Civil Appeal No. 2009-2011 of 2003 and Civil Appeal No. 2520 of 2008 decided on 18th January, 2010 = (2010-TIOL-06-SC-IT) which approves this Court's Full Bench decision in the case of CIT v. Kelvinator of In....

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....ped assessment, there is no bar of a period of four years and, the assessing authority has jurisdiction to issue notice under section 148 of the Act. 9. Relevant extract of section 147 of the Act reads as under: "147. Income escaping assessment.-If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of sections 148 to 153, assess or reassess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recomputed the loss or the depreciation allowance or any other allowance, as the case may be, for the assess....