9911796707
TMI Blog2021 (3) TMI 954X X X X Extracts X X X X X X X X Extracts X X X X ..... the part of the assessee in furnishing necessary materials in completing the assessment. If such is the admitted factual position, the reason for reopening, stating that expenditure in relation to income not includable in total income under Section 14A of the Act should be calculated as per Clause (ii) of Rule 8D(2), would clearly amount to change of opinion. The stand taken by the Revenue before us by placing reliance on the decision in the case of P.V.S. Beedies P. Ltd.[ 1997 (10) TMI 5 - SUPREME COURT ] is not substantiating their case on account of the factual position in the case of P.V.S. Beedies P. Ltd. In the said case, the audit department noted that the trust under the name of P.V.S. Memorial Charitable Trust had been initially gr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the Assessing Officer is change of opinion?" 3. We have heard Mr.R.Karthik Ranganathan, learned Senior Standing Counsel assisted by Mr.S.Rajesh, learned Junior Standing Counsel appearing for the appellant-Revenue and Mr.G.Baskar, learned counsel assisted by Ms.S.Sriniranjani, learned counsel for the respondent. 4. The short issue, which falls for consideration, is whether the reopening of the assessment done by the Assessing Officer culminated in the assessment order dated 30.12.2016 was valid. 5. As could be seen from the assessment order, the reason for reopening is as hereunder: "The expenditure in relation to income not includable in total income under Sec. 14A was calculated as per clause (iii) of Rule 8D(2), only, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Firstly, we need to see as to whether there is any allegation against the respondent-assessee having failed to fully and truly disclose all the details before the Assessing Officer when the assessment was initially completed under Section 143(3) of the Act on 31.12.2010. Admittedly, there is no allegation against the assessee and the Tribunal was right in holding that there was no negligence on the part of the assessee in furnishing necessary materials in completing the assessment. If such is the admitted factual position, the reason for reopening, stating that expenditure in relation to income not includable in total income under Section 14A of the Act should be calculated as per Clause (ii) of Rule 8D(2), would clearly amount to change ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
