TaxTMI 
TaxTMI 
2025 (2) TMI 1176
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....ion and also barred by limitation. 2. At the outset, learned counsel for the petitioner would submit that he would not press the ground of limitation. The only submission of learned counsel for the petitioner is that as no proceeding was pending relating to the Assessment Years 2001-2002, 2002-2003 and 2003-2004, the Assessing Officer had no jurisdiction to issue commission under Section 131 of the Act to the District Valuation Officer. He would further submit that a proper satisfaction was not recorded for reopening of the case under Section 147 of the Act in respect of the said Assessment Years. Therefore, on this score, the aforesaid notices are per se illegal as the same has been issued without proper application of mind by the Assessi....
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....nly has the power to reassess any income which escaped assessment for any assessment year subject to the provisions of Sections 148 to 153. However, the use of this power is conditional upon the fact that the assessing officer has some reason to believe that the income has escaped assessment. The use of the words "reason to believe" in Section 147 has to be interpreted schematically as the liberal interpretation of the word would have the consequence of conferring arbitrary powers on the assessing officer who may even initiate such reassessment proceedings merely on his change of opinion on the basis of same facts and circumstances which has already been considered by him during the original assessment proceedings. Such could not be the int....
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....o believe that income has escaped assessment, confers jurisdiction to reopen the assessment. Therefore, post-1-4-1989, power to reopen is much wider. However, one needs to give a schematic interpretation to the words "reason to believe".... Section 147 would give arbitrary powers to the assessing officer to reopen assessments on the basis of "mere change of opinion", which cannot be per se reason to reopen." 6. We must also keep in mind the conceptual difference between power to review and power to reassess. The assessing officer has no power to review; he has the power to reassess. But reassessment has to be based on fulfilment of certain precondition and if the concept of "change of opinion" is removed, as contended on behalf of the Dep....
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....n Officer, a huge difference of income emerged and it was found that the assessee has escaped the income and therefore, the notices have been issued. He would further submit that the assessee has raised objection for reopening of the aforesaid cases, however, the same has been decided by a speaking order dated 12.12.2008. He would lastly submit that a proper procedure has been followed by the Revenue and the proceeding is at the notice stage and moreover, the final order would be appealable under Section 246A of the Act. Hence, learned counsel for the respondents prays to dismiss the petition. 4. Heard learned counsel for the parties and also perused the documents annexed with the petition. 5. Admittedly, a Survey was conducted under Sect....