2017 (1) TMI 930

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....venue urges the following substantial questions of law for our consideration : "(i) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding the initiation of reassessment proceedings as bad in law and consequently cancelling the reassessment completed by the Assessing Officer under Section 143(3) r/w Section 147 of the I.T. Act without appreciating the fact that the reassessment proceeding was not initiated merely on the change of opinion but was initiated on the basis of the facts of the case and as per the provisions of the Act. (ii) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in allowing the assessee's claim of deduction unde....

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....pass an order under Section 143(3) r/w 147 of the Act, holding that on merits, the respondent assessee is not entitled to the benefit of deduction under Section 80IB(8A) of the Act. (c) Being aggrieved, the respondent assessee filed an appeal to the Tribunal. By the impugned order, the Tribunal held that the reopening notices were without jurisdiction as it emanates from a change of opinion. The impugned order holds that orders passed during the regular assessment proceedings under Section 143(3) of the Act are presumed to have been passed by the Assessing Officer on application of his mind to the claim of deduction during the regular assessment proceedings. Thus, a fresh application of mind on the same set of facts being a change of opini....