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TMI Blog2017 (1) TMI 1723X X X X Extracts X X X X X X X X Extracts X X X X ..... ment. On the basis of the return of income filed by the assessee, subsequently, the AO came to the conclusion that the loan/advance received by the assessee from of M/s. Sherawali Rice Mills Pvt Ltd., Boudh was assessable u/s.2(22)(e) of the Act as deemed dividend -Reopening of the assessment is bad in law as it is trite law that the reopening of assessment cannot be made on the very same set of facts, which were before the Assessing Officer at the time of processing of the return as it will amount to change of opinion. See M/S ATMA RAM PROPERTIES PRIVATE LIMITED. VERSUS DCIT [ 2011 (11) TMI 51 - DELHI HIGH COURT ] - Decided in favour of assessee. - SHRI N.S SAINI, ACCOUNTANT MEMBER For the Assessee : Shri P.K.Mishra, AR For the Revenue : ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee on 3.3.2012. 4. He argued that from the above recorded reasons of the Assessing Officer, it will be seen that no new material had come to the knowledge of the Assessing Officer after processing of the return on 28.5.2008, the income chargeable to tax has escaped assessment. He argued that on the basis of the return of income filed by the assessee, subsequently, the Assessing Officer came to the conclusion that the loan/advance received by the assessee from of M/s. Sherawali Rice Mills Pvt Ltd., Boudh was assessable u/s.2(22)(e) of the Act as deemed dividend. Therefore, the reopening of the assessment is bad in law as it is trite law that the reopening of assessment cannot be made on the very same set of facts, which were before th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... error in applying a provision cannot be corrected in the present case due to the factual matrix, by exercise of power under Section 147 of the Act. It is not that the Revenue was remediless or the error could not be corrected or rectified. Due to delay and limitation, the remedial action cannot be taken under the applicable provision. Scope and ambit of each provision/remedy available under the Act is circumscribed and stipulated. Sometimes two or more provisions/remedies may be applicable and recourse to any one of the remedy may be proper but scope and ambit of a provision/remedy cannot be expanded beyond the legislative mandate. The jurisdictional preconditions, if stipulated in the enactment, must be satisfied before recourse to a reme ..... X X X X Extracts X X X X X X X X Extracts X X X X
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