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TMI Blog2012 (5) TMI 27X X X X Extracts X X X X X X X X Extracts X X X X ..... x Appellate Tribunal (for brevity, 'the Tribunal') dismissing the appeals preferred by the revenue and upholding the view of the CIT(A). The Tribunal has held that the there was no failure on the part of the assessee in making full and true disclosure in respect of export incentives and interest on FDR and the conditions of the first proviso to Section 147 of the Act are not satisfied for reopening the assessment after the expiry of four years from the end of the relevant assessment year. With regard to the manufacturing activity at the Rajkot Branch office by the assessee, it has been specifically observed that it is only a change of opinion by the Assessing Officer on the same set of facts. Therefore, notice under Section 147 of the Act c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ondent was re-computed at Nil after allowing deduction of Rs.21,84,220/- under Section 80IB of the Act. 5. Against the order passed by the CIT(A), the revenue preferred an appeal before the Tribunal, which was dismissed on 20.9.2006 and no further appeal was filed before this Court. In other words, the order passed by the Tribunal attained finality. 6. However, the Assessing Officer initiated proceedings under Section 147/148 of the Act and a notice, dated 19.3.2008, under Section 148 was issued to the assessee-respondent. On 10.4.2008, the assessee-respondent responded to the said notice by stating that the return of income filed on 31.10.2001 with income of Rs.21,48,377/-, which was later on revised on 24.6.2002 declaring ni ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , therefore, it was not open to the Assessing Officer to invoke the provisions of Section 148 of the Act for the purposes of reassessment. It has also been held by the authorities below that it is a case of change of opinion on the same facts, which cannot constitute basis for exercise of jurisdiction under Section 147/148 of the Act. From a bare reading of the order dated 17.12.2008 (A-1), passed by the Assessing Officer, it is evident that he has sought to change his opinion by placing reliance on various judgments rendered by Hon'ble the Supreme Court and the Jurisdictional High Court. Therefore, it is a clear case of change of opinion and not of concealment. Accordingly, we are of the considered view that no question of law much less a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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