2014 (4) TMI 477

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....titioner for the assessment year 2008-09. The facts are as under: The petitioner is a charitable trust registered under the Bombay Public Trust Act. For the assessment year 2008-09, the petitioner had filed return of income declaring total income of nil. Along with the return, the petitioner also submitted Form 10 and necessary resolutions of the petitioner Trust. In the declaration under Form 10, the petitioner had disclosed that in the previous year relevant to assessment year 2008-09, and subsequent years, an amount of Rs.1.30 crores (rounded off), i.e. 5.35% of the income of the trust was accumulated or set apart till 31.3.2013 for the purpose of advancement and promotion of direct participation of women and their families in full us....

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....sing Officer passed the order of assessment on 29.10.2010. With respect to the said issue of accumulation of Trust's income, though he did not give any specific reasons, he accepted the entire claim of deduction under section 11(2) of the Act. He made disallowance of claim of depreciation of Rs.16.30 lacs with which we are not concerned in this petition. After such scrutiny assessment, the Assessing Officer issued the impugned notice dated 22.3.2013. At the request of the petitioner, he supplied the reasons recorded by him for issuing the notice. Such reasons read as under: "The assessee, an organization established to advance and promote direct participation of poor women, filed return of income for A.Y.2008-09 having deficit of Rs.(....

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....asis of which the assessment is sought to be reopened was examined by the Assessing Officer in the original assessment. It is true that the present case pertains to notice of reopening issued within the period of four years from the end of the relevant assessment year. The additional requirement flowing from proviso to section of such income chargeable to tax having escaped assessment for the failure of the assessee to disclose truly and fully all material facts, therefore need not be satisfied. Nevertheless, if an issue had been examined by the Assessing Officer in the original assessment proceedings, any reopening on the basis of such issue without any additional material would be a mere change of opinion. As held by this Court in the cas....