TaxTMI 
TaxTMI 
2022 (6) TMI 1116
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....e assessment order framed u/s 143(3)/147 of the Act dated 29.06.2016. 2. The assessee is in appeal before the Tribunal raising the following grounds: "1. That in the facts and circumstances of the case the ld. C.I.T.(A) erred in confirming the action of Ld. Assessing Officer in issuing notice u/s 148 of the I.T.Act, 1961. 2. That in the facts and circumstances of the case, the Id. C.I.T.(A) erred in confirming the jurisdiction of the Ld. Assessing Officer in re-opening the proceedings u/s 147 of the I.T.Act, 1961. 3. That in the facts and circumstances of the case, the Id. C.I.T.(A) erred in in confirming the addition made by the Ld. I.T.O for cessation of liability to the extent of Rs.50,46,367/-. 4. That in the facts and circumstan....
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....he ITR under head "income/receipt credited to profit & loss account considered under other heads of income". But under "any other heads of income" this was not offered to tax. Thus, Rs. 50,46,367/- escaped assessment. The above piece of information has been taken out by the ld. Assessing Officer (in short ld. "AO") from the income tax return filed by the assessee. There is no new material with the ld. AO to show that the assessee had not disclosed fully and truly material facts necessary for the assessment. It is not in dispute that the re-opening has been done after expiry of four years. Amendment u/s 154 of the Act could be made only withing a period of four years from the end of the financial year in which the order sought to be amended ....
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....erpretation to the words "reason to believe", failing which, Section 147 of the Act would give arbitrary powers to the Assessing Officer to reopen the assessment on the basis of mere "change of opinion", which cannot be per se reason to reopen. CIT v. Kelvinator of India (2010) 320 ITR 561 (SC) is one of the crucial judgement as regards to the Change of opinion wherein it is held that: Reappraisal of same facts/documents/information means change of opinion. AO has no power to review his order. Order which has been passed purportedly without application of mind would itself confer jurisdiction upon the Assessing Officer to reopen the proceeding without anything further, the same would amount to giving premium to an authority exercising quasi....