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TMI Blog2019 (8) TMI 985X X X X Extracts X X X X X X X X Extracts X X X X ..... s already on record. In the instant case, we find that the AO has resorted to provisions of section 148/147 merely on change of opinion after reappreciation of facts that were available before him in proceedings u/s. 143(3) of the Act. We find no reason to interfere with the well reasoned findings of First Appellate Authority. Accordingly, the impugned order is upheld and the appeal of Revenue is dismissed sans merits. reappreciation of facts that were available before him in proceedings u/s. 143(3) of the Act. We find no reason to interfere with the well reasoned findings of First Appellate Authority. Accordingly, the impugned order is upheld and the appeal of Revenue is dismissed sans merits. - ITA No. 980/PUN/2017 - - - Dated:- 12-7 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the validity of reopening. The Commissioner of Income Tax (Appeals) held reopening of assessment was based on mere change of opinion. Against the findings of First Appellate Authority, the Revenue is in appeal. 3. Shri R.S. Abhyankar appearing on behalf of the assessee submitted at the outset that reopening of assessment was made beyond the period of four years, thus, the proviso to section 147 gets attracted. The Assessing Officer in reasons recorded for reopening has nowhere mentioned that income chargeable to tax has escaped assessment by reason of failure on the part of assessee to disclose fully and truly all material facts necessary for assessment. A perusal of reasons recorded for reopening would show that the r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ngs of Commissioner of Income Tax (Appeals) on the issue of reopening of assessment. 5. We have heard the submissions made by representatives of rival sides and have perused the orders of authorities below. It is an undisputed fact that the Assessing Officer has reopened assessment beyond the period of four years from the end of relevant assessment year. The Assessing Officer has power to reopen the assessment after the expiry of four years from the end of relevant assessment year if, the income has escaped assessment by reason of failure on the part of assessee to disclose fully and truly all material facts necessary for the assessment for that assessment year. In the instant case, we observe that reassessment proceedings ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lly and truly all material facts necessary for assessment for that assessment year. The provisions of section 148/147 of the Act are not meant to rectify the defects in the assessment order caused by the Assessing Officer s own negligence. The provisions of section 147 are more stringent where Assessing Officer intends to reopen the assessment after the expiry of four years from the end of the relevant assessment year. The Assessing Officer cannot be allowed to recklessly invoke the provisions of section 148/147 to make additions on mere reappreciation of the facts and documents already on record. 7. In the instant case, we find that the Assessing Officer has resorted to provisions of section 148/147 merely on change of op ..... X X X X Extracts X X X X X X X X Extracts X X X X
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