2020 (3) TMI 1492

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....spondent : Mr. R. Vijayaraghavan. JUDGMENT DR. VINEET KOTHARI, J. Both the learned counsels submit that the controversy in the present case is covered by the decision of the Coordinate Bench rendered on 05.08.2019 in T.C.A. No. 117 of 2009 [Commissioner of Income Tax Vs. M/s. India Cements Ltd., Chennai - 9] for Assessment Year 1996-97. 2. The assessment year in the present appeal befo....

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....d out that there is a conceptual difference between the power to review and power to reassess, that the Assessing Officer has no power to review, that he has the power to reassess and that reassessment has to be based on fulfillment of certain pre-conditions and if the concept ?"change of opinion"? is removed, then in the garb of reopening the assessment, review would take place. It was held that ....

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....ibunal, on facts, recorded that the Department did not bring any material fact before it, which was not disclosed in the original return of income. 32. Even in this appeal, no such fact has been brought to our notice nor pleaded in the memorandum of grounds of appeal and presumably that is the reason why the Revenue had raised the substantial questions involving the interpretation of Rule....