2022 (1) TMI 542

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....ndents. (THROUGH VIDEO CONFERENCE) P.C.: 1. The petitioner is impugning a notice dated 12th December 2007 issued under section 148 of the Income Tax Act, 1961 ('the said Act') on the ground, inter-alia, that respondents are relying on the same material with a view to take a different view. 2. Shri Singh, learned counsel for petitioner submitted that on consideration of same set of mate....

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....fact that I have reason to believe that the granting of deduction u/s. 80IB(10) of Rs. 1,42,50,816/- has resulted escapement of income within the meaning of Section 147." 4. In the assessment order itself it is recorded that a show cause notice was issued on 17th January 2005 requiring the assessee to substantiate the claim of deduction. Paragraph 6(c) and (d) of the assessment order reads as u....

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.... the primary facts necessary for assessment are fully and truly disclosed, the Assessing Officer is not entitled on change of opinion to commence proceedings for reassessment. Where on consideration of material on record, one view is conclusively taken by the Assessing Officer, it would not be open to reopen the assessment based on the very same material with a view to take another view. (Ananta L....

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....ome Tax (2010) 192 Taxman 137 (Bombay), held that it cannot be postulated that the condition precedent to the reopening of an assessment has been fulfilled. 8. We are satisfied that not only material facts were disclosed to the petitioner truly and fully, but they were carefully scrutinized and figures of income as well as deduction were viewed carefully by the Assessing Officer. In the circums....