9911796707
TMI Blog2017 (2) TMI 1207X X X X Extracts X X X X X X X X Extracts X X X X ..... ceeding - the petitioner's assessing authority has initiated reassessment proceedings against the petitioner for A.Y. 2010-11 (UP & Central) on a mere change of opinion in the self same facts and evidence as existed at the time of original assessment - the sanction order dated 16.04.2016 and the reassessment notice dated 25.04.2016 issued by the assessing authority of the petitioner are without ju ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 016 to the effect that sale turnover of varnish used in execution of job work for Ex-U.P. dealers has escaped assessment at the hands of the petitioner. The petitioner having processed the goods, namely, Copper Wire on job-work basis, in course of which petitioner consumed varnish of value ₹ 1,38,84,266/-. It is the case of the petitioner that re-assessment proceedings have been initiated on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aware of the nature of the transaction but had, upon the application of mind taken a categorical view that the transaction was liable to be taxed as interstate sale and by virtue of Form 'C' being submitted by the Ex-U.P. Dealer, the transaction was taxed @ 2% only. Perusal of the sanction order dated 16.04.2016 reveals that no new material or information has come on record and that pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e established between the change of opinion' and the material present before the assessing Authority. Discovery of an inadvertent mistake or non-application of mind during assessment would not be a justified ground to re-initiate proceedings under Section 21(1) of the Act on the basis of change in subjective opinion (CIT v. Dinesh Chandra H. Shah, (1972) 3 SCC 231; CIT v. Nawab Mir Barkat Ali ..... X X X X Extracts X X X X X X X X Extracts X X X X
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