2014 (11) TMI 813

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....ENT : MR MANISH J SHAH, ADVOCATE JUDGEMENT Per: K S Jhaveri: 1. Commissioner of Income Tax-II, Baroda, has felt aggrieved by the common order passed by the ITAT, Ahmedabad Bench 'D', Ahmedabad, Dated : 24.04.2014, in I.T.A. No. 1506/Ahd/2010 for A.Y.-1995-96 and in I.T.A. No. 1507/Ahd/2010 for A.Y.-1997-98. 2. The brief facts of the case are that the respondent-assessee filed i....

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....h, learned Advocate for the appellant, took us through the entire record and submitted that the common questions of law framed in this appeal, which read as under, arise for the consideration of this Court;          "(1) Whether on the facts and circumstances of the case and in law, the ITAT was justified in holding the reopening of assessment u/s 147 as ....

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....cific amount of excess allowance, which is the only requirement under the law to see whether reopening is valid or not and if the reason to opine that there is under assessment, is bona fide then reopening has to be held valid? " 4. Mr. Parikh submitted that the finding of facts recorded by the Tribunal are contrary to the well-settled position of law and principles. He submitted that the Tribu....

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....r, the ITAT apart from the decision of this Court in the case of "GUJARAT POWER CORPORATION LTD." (Supra) also placed reliance on a subsequent decision of the Hon'ble Apex Court in the case of "COMMISSIONER OF INCOME TAX VS. KELVINATOR OF INDIA LTD.", [2010] 320 ITR 561, wherein, the Apex Court observed that the concept of 'Change of Opinion' on the part of AO to reopen the assessment ....