2018 (3) TMI 578

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....e I.T. Act, 1961 (hereinafter referred to as the 'Act'), dated 22.03.2013. 2. The Revenue has raised the following grounds of appeal: "1. That, the ld. CIT(A), Asansol has erred in law and on facts in cancelling the reassessment proceedings without appreciating the reason recorded by the A.O. 2.That, the ld. CIT(A), Asansol has erred in law and on facts in cancelling the reassessment proceedings without appreciating the fact that income liable to tax has escaped assessment in the original assessment proceedings due to erroneous decision of the A.O. 3. That, the ld.CIT(A), Asansol has erred in law and on facts allowing the appeal in favour of the assessee without appreciating the fact that the assessee failed to obtain 15-I prior to....

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....f assessment year had changed his opinion, and when the opinion was changed there were no new material before him, except an audit objection. Therefore, the ld. CIT(A) held that since the AO has changed his opinion and there were no new material before him except an audit objection, therefore, reopening u/s 147/148 was bad in law. The ld. CIT(A) relied on the judgment of the Hon'ble Supreme Court in the case of CIT vs. Kelvinator India Ltd. [2010] 320 ITR 561(SC) wherein it was held that AO must have tangible material to come to conclusion that there is escapement of income and that reasons must have a live link with the formation of belief. The ld. CIT(A) further observed that in assessee's case under consideration it can be seen that on s....

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....ave given a careful consideration to the rival submissions and perused the materials available on record, we note that in the assessee's case under consideration, there was no new material before the AO to reopen the assessment u/s 147/148 of the Act. During the original assessment proceedings u/s 143(3), the issue was decided by the assessing officer and on the said issue the assessing officer reopened the assessment, which is tantamount to change of opinion. In the assessee's case under consideration, we note that there was a default on the part of the assessee for not obtaining Form No.15-I, but regular assessment u/s 143(3) was completed without effecting disallowance despite having material in record. Form NO.15-I was not obtained prio....