TaxTMI 
TaxTMI 
2015 (2) TMI 1142
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....appeal by the Revenue for the Asstt.Year 2005-2006 is directed against the order of the CIT(A). 2. Only effective ground of the appeal of the Revenue is ground no.1, which is reproduced as under: "1. The ld.CIT(A) has erred in law and on facts in treating the reopening of the case and assessment proceedings invalid." 3. The learned DR submitted that reopening of the assessment is made within f....
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....t reassessment cannot be made on mere change of opinion. He referred to table given in the appellate order of the CIT(A) at page no.8, which shows that main commodities purchased and sold by the assessee during the year shows better profit in percentage as compared to earlier Asstt.Year 2003-04 and 2004-05. He submitted that the issue is covered in favour of the assessee with the decision of the H....
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.... than Rs. 1.00 lakh in the entire year. We find that the AO has calculated the average shortage in various commodities purchased and sold by the assessee at 2.52% by taking average of the shortage in various commodities, which includes the commodities wherein the assessee has a very insignificant turnover. In these facts, we are of the view that even on merits, there was no justification for reope....