2016 (5) TMI 1267

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..... 201011 and 12th March, 2014 for Assessment Year 201112. On the date when the Assessing Officer passed the orders under Section 143(3) of the Act, the decision of the Apex Court in Catholic Syrian Bank Ltd. (2012 (2) TMI 262 - SUPREME COURT OF INDIA ) was very much available. Thus, prima facie, the Assessing Officer would have formed a necessary opinion taking a view that the decision of the Apex .....

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..... s recorded by the Assessing Officer in support of both the impugned notices are identical save and except the quantum involved. 3. The reasons in support of the impugned notices for coming to the reasonable belief that income chargeable to tax has escaped assessment is on the interpretation of Section 36(1)(viia) of the Act. In support the reasons place reliance upon the decision of the Apex Co .....

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..... ma facie, the Assessing Officer would have formed a necessary opinion taking a view that the decision of the Apex Court in Catholic Syrian Bank Ltd. (supra) would not militate against the view canvassed by the respondent assessee and allow the claim of the petitioner for deduction under Section 36(1)(viia) of the Act. 5. In the above view, prima facie, this is a case of change of opinion. Conse .....

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