2014 (12) TMI 1335

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....na, Adv. For M/s King And Partridge For The Respondent. JUDGMENT The revenue has preferred this appeal against the concurrent findings recorded by the appellate authorities that the order of the assessing authority reopening the assessment is unsustainable as the grounds urged at best amounts to change of opinion and also the requirements as contained in the first proviso to Section 147 viz.....

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....O) of the Act with effect from 01.04.1998. The assessee is not holding any patent, design or registration. Therefore, the assessing authority was of the view that deduction allowed of Rs. 2,51,59,154/- is erroneous and therefore, on the ground that the aforesaid income has escaped the assessment within the meaning of Section 147, the proceedings were reopened. 3. The said proceedings were reope....

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....annot be reopened unless the case falls within one of the exceptions mentioned in the first proviso. 4. If an assessment is to be reopened, the assessing authority has reasons to believe that any income chargeable to tax has escaped assessment, it is settled law that change of opinion cannot constitute a ground such as reason to believe for reopening the assessment and that is precisely what th....