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TMI Blog2020 (10) TMI 873X X X X Extracts X X X X X X X X Extracts X X X X ..... On the facts and in the circumstances of the case, the learned Commissioner of Income-tax (Appeals) was not justified in holding that initiation of action under section 147 in this case represented mere 'change of opinion' and hence not sustainable, ignoring the fact that in this case, the Revenue audit party has raised an objection sub sequent to scrutiny assessment under section 143(3) of the Act. It is a trite law that when a case is reopened on the basis of information contained in such audit objection, it does not amount to 'change of opinion', rather it amounts to 'fresh information' brought to the knowledge of the Assessing Officer. In the following judicial precedents it has been held that re-opening of asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o above, learned Departmental representative submitted that in this case the reopening of assessment under section 147 of the Act was done on the ground of audit objection by the Revenue audit party. There-fore, the appeal cannot be decided on the ground of low tax effect. He submitted that it is trite law that when a case is reopened on the basis of information contained in such audit objection, it does not amount to "change of opinion" rather it amounts to fresh information brought to the knowledge of the Assessing officer. Learned Departmental representative relied on the following judicial pronouncements in support of his contention that reopening of assessment on the basis of objections raised by the audit party is legally correct. ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an assessment legally completed. The learned authorised representative also submitted that where divergent views are taken by different High Courts, the decision favourable to the assessee has to be applied as held in the case of CIT v. Vegetable Products Ltd. [1973] 88 ITR 192 (SC) and Union of India v. Onkar S. Kanwar [2002] 258 ITR 761 (SC). 7. I have heard the rival submissions and perused the record of the case. In this case, the assessment was reopened under section 147 of the Act that there was suppression of purchases to the tune of Rs. 4,99,975. From a perusal of reasons recorded, nowhere, it is mentioned that the assessment has been reopened on the basts of audit objection. It is stated in the grounds of appeal filed by the Depa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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