2025 (3) TMI 1587

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....Respondent: Mr Shrihari Iyer,. PC:- 1. Heard learned counsel for the parties. 2. This appeal relates to the AY 2004-05. 3. Mr. Suresh Kumar proposes the following questions of law, which according to him, arise in this matter; SUBSTANTIAL QUESTIONS OF LAW (a) Whether on the facts & in the circumstances of the case and in law, the Hon'ble ITAT was right in holding ....

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....of income by the assessee explaining the nature of the claim, when it does not necessarily mean that the AO has applied his mind on the issue and formed an opinion. 4. Mr. Suresh Kumar submits that the jurisdictional parameters for reopening the assessment were duly fulfilled, and the Tribunal was therefore not justified in interfering with the reassessment order. 5. Mr. Iyer, learned counse....

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....ng the assessment were clearly not fulfilled. 7. The ITAT has correctly pointed out that specific queries were raised and responded to. No reassessment proceedings could have been initiated based merely on a change of opinion on the same material. The decisions of this Court in Asian Paints Ltd. (supra) and Aroni Commercials Ltd. (Supra) support the view taken by the ITAT in this matter. Since ....