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TMI Blog2019 (3) TMI 1310X X X X Extracts X X X X X X X X Extracts X X X X ..... ower of review. The change of opinion implies formulation of an opinion and then a change thereof. Refereeing to case of INCOME TAX OFFICER WARD NO. 16 (2) VERSUS M/S TECHSPAN INDIA PRIVATE LTD. & ANOTHER [2018 (4) TMI 1376 - SUPREME COURT] when we carefully examine the facts of the case in hand, we find that there is tangible material as pointed by the CITC in huge amount of income escaping assessment, therefore assessment was reopened. Thus there is tangible material forming a live link for change of opinion. It is not in dispute that after reopening, fresh assessment order has been passed. Thus, the reopening of assessment and the resultant assessment order dated 28.12.2018 both could be challenged more effectively in statutory remedi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nding copy of reasons for reopening of assessment. The Dy. Commissioner Income Tax Jabalpur on 17.11.2018 supplied the copy of reasons along with the requisite approval of Principal CIT for reopening of the assessment. Petitioner submitted reply/objection which was after consideration rejected vide impugned communication dated 29.11.2018. 4) During the pendecy of the writ petition, the A.O. has passed fresh assessment order dated 28.12.2018., Petitioner filed it along with application for amendment, which was opposed by the learned standing counsel for the Revenue at the time of hearing on the ground that the petitioner without availing the efficacious, alternative statutory remedy of appeal, cannot assail the assessment order dated 28.1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment order can more efficaciously challenged in statutory appeal rather than in this writ petition under Article 226 of the Constitution. 7) After having heard rival submissions at length and on a careful consideration of material available on record, we find force in the submissions of the learned counsel for the Revenue that the petitioner, if so advised, should resort to statutory remedy.. 8) It is well settled by now that Section 147 of the Income Tax Act does not permit reassessment of an income merely because of the fact that the AO has a change of opinion. Section 147 confers the power of reassess and not the power of review. The change of opinion implies formulation of an opinion and then a change thereof. It has been h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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