TaxTMI 
TaxTMI 
2000 (11) TMI 34
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 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 computation of the income, and the deductions....
X X X X Extracts X X X X
X X X X Extracts X X X X
....omputation 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 Assessing Officer with regard to those items a....
X X X X Extracts X X X X
X X X X Extracts X X X X
....o 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 itself constitute sufficient basis for reopening ....