2022 (11) TMI 1256

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.... 1. For that the order of the Commissioner of Income Tax (Appeals) is contrary to law, facts and circumstances of the case and is opposed to the principles of equity, natural justice and fair play. 2. For that the Commissioner of Income Tax (Appeals) failed to appreciate that the order of the Assessing Officer is without jurisdiction. 3. For that the Commissioner of Income Tax (Appeals) failed to appreciate that the reopening is bad in law. 4. For that the Assessing Officer did not comply with the statutory requirements before issue of notice u/s.148. 5. For that change of opinion cannot be a reason for reopening. 6. For that there is no new tangible material before the Assessing Officer ....

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....tentional and craves the leave of the Hon'ble Appellate Authority to admit these additional grounds. ADDITIONAL GROUNDS OF APPEAL Ground No.3 For that the Commissioner of Income Tax (Appeals) failed to appreciate that the reopening is bad in law. Ground No.4 For that the Assessing Officer did not comply with the statutory requirements before issue of notice u/s.148. Ground No.5 For that change of opinion cannot be a reason for reopening. Ground No.6 For that there is no new tangible material before the Assessing Officer to initiate the reassessment proceedings. Ground No.7 For that where the reason fails, the reopening fails (The ....

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....net loss for the year and therefore, the assessee has not claimed deduction u/s.10A / 10AA of the Act. The AO, however, was not convinced with the explanation of the assessee and according to the AO, the assessee could not explain downward revision of sales with necessary evidences and also eligibility to claim exemption u/s.10AA of the Act, and thus, rejected the arguments of the assessee and denied exemption claimed u/s.10AA of the Act. The assessee carried the matter in appeal before the First Appellate Authority, but could not succeeded. The Ld.CIT(A) for the reasons stated in their appellate order dated 30.06.2016, dismissed the appeal filed by the assessee. Aggrieved by the order of the Ld.CIT(A), the assessee is in appeal before us. ....

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....y opinion, the question of concept of 'change of opinion' does not arise. We further noted that the AO has formed reasonable belief of escapement of income on the basis of fresh materials subsequent to completion of original assessment order and said materials may come from the assessment records also. Therefore, we are of the considered view that there is no merit in the arguments of the assessee that there is no fresh tangible material in the possession of the AO to form reasonable belief of escapement of income and thus, we reject the arguments of the assessee and uphold the reopening of assessment. 6. The next issue that came up for our consideration from the assessee's appeal is deduction u/s.10A / 10AA of the Act. The assessee is a....