2000 (11) TMI 34

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....ASIMHA BABU J.-The Tribunal has upheld the assessee's objection to the reopening of the assessment for the assessment year 1977-78 by holding that what the Income-tax Officer purported to do was merely to reopen the assessment based on a change in his own opinion as to how the computation of the income should have been done. In the original assessment, all the information required for the compu....

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....d been made. There was no error in the computation actually made. Nevertheless, the Income-tax Officer sought reopening only on the revised view entertained by him that what had been allowed as a revenue loss should have been treated as a capital loss, and that the quantum of weighted deduction allowed under section 35B of the Act should be reduced. The change in the view on the part of the Assess....

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....that the court held that the information so given to him by the audit party was with regard to a factual error or omission in the assessment, and that the reopening of the assessment on the basis of a factual error so pointed out was permissible in law. That case cannot be regarded as an authority for the proposition that a change in the view on the part of the Income-tax Officer would by itsel....