2022 (2) TMI 1228

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....Respondent : Mr. T.K. Satapathy, Senior Standing Counsel ORDER 1. The Petitioner questions an assessment order dated 9th November, 2017 passed by the Deputy Commissioner of Income Tax, Circle 1(2), Bhubaneswar [hereafter 'Assessing Officer' (AO)] for the Assessment Year (AY) 2012-13 under Section 143(3) of the Income Tax Act, 1961 (IT Act) read with Section 147 thereof. 2. The brief f....

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....uing notice in the present petition on 17th January, 2018 this Court stayed the impugned assessment order and the consequential demand notice (Annexure-2). 4. Mr. Sidhartha Ray, learned counsel for the Petitioner raises two principal grounds to assail the impugned assessment order. First, he argues that on account of non-compliance of mandatory directions contained in the judgment of the Supreme ....

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....econd point first. According to him, with the Assessee having participated in the proceedings under Section 147 of the IT Act, the Assessee cannot complaint of non-compliance of the GKN Driveshafts (India) Ltd. (supra). Reliance is also placed under Section 292 BB of the IT Act. On merits however Sri Satapathy was unable to dispute the fact that the reassessment order merely reproduces the notice ....

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.... to reasessess. The Assessing Officer has no power to review; he has the power to reassess. But reassessment has to be based on fulfilment of certain preconditions and if the concept of "change of opinion" is removed, as contended on behalf of the Department, then, in the grab of reopening the assessment, review would take place. One must treat the concept of "change of opinion" as an in-built tes....