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TMI Blog2022 (3) TMI 769X X X X Extracts X X X X X X X X Extracts X X X X ..... any valid reason for reopening of assessment particularly when the original assessment was finalized on the basis of evidences produced by the assessee on the same claim made by him as per the dictate of the Revenue. Respectfully relying upon the ratio laid down in GUJARAT POWER CORPORATION LTD VERSUS ASSISTANT COMMISSIONER OF INCOME TAX [ 2012 (9) TMI 69 - GUJARAT HIGH COURT] the same is found to be based on mere change of opinion and, thus, bad in law and liable to be quashed. With the above reasons we, therefore, quash the entire proceeding which is found to be devoid of any merit. Hence, assessee's appeal is allowed. - I.T.A. No. 2723/Ahd/2017 - - - Dated:- 10-3-2022 - Ms. MADHUMITA ROY , JUDICIAL MEMBER And SHRI BHAGIRATH MAL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... APPEALS on or before the final hearing, if necessary so arises. 2. After filing the appeal before us the appellant has filed an additional ground of appeal whereby and whereunder the very reopening of the case of the appellant under Section 147 of the Act has been challenged. It is relevant to mention that the Ld. DR has also not objected to the addl. Ground preferred by the assessee. Needless to mention that the said point of maintainability has not been challenged before the Ld. AO or before the Ld. CIT(A). Since it goes to the root of the matter we would like to decide the issue at the threshold. 3. At the time of hearing of the instant appeal it was submitted by the Ld. Senior Counsel appearing for the assessee that during the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ies below. Further that he has relied upon a judgment in support of reopening on the issue of change of opinion in the case of PCIT, Vadodara-2 vs. Sun Pharmaceuticals Industries Ltd., reported in (2017) 79 taxmann.com 61 (SC). 5. We have heard the respective parties and also perused the relevant materials available on record. 6. It appears that the reason for reopening of assessment dated 18.12.2015 alleges income escaping assessment by the assessee on the following counts: 1. From the balance sheet and p l a/c of the assessee has paid interest on unsecured loan has paid interest of ₹ 829400/- on secured loan. However, the assessee has not charged interest from uday cotton co. on loan and advances of ₹ 3099959 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made, though the assessee had an exempt u/s. 10(34/35) of ₹ 7,66,943/- during the relevant previous year. The assessee had not disallowed the expenditure relatable to the exempt income. Thus, the disallowance of expenses pertaining to earn exempt income was required to be made u/s. 14A. 7. It also appears from Page 5 of the Paper Book being the Annexure of notice under Section 142(1) dated 14.08.2014 whereby and whereunder the assessee was directed to produce relevant documents in respect of the claim made by the assessee wherefrom it further appears that the entire set of documents relating to the issues involved in the original assessment and the reassessment proceeding as well were mentioned. It is relevant to mention that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exemption made by assessee and having entertained prima facie doubts raises queries, asks assessee to satisfy him with respect to such a claim and thereafter does not make any addition in final order of assessment, he can be stated to have formed an opinion irrespective of as to whether or not in final order, he gives his reasons for not making addition reopening of such assessment be said to be based on change of opinion. 10. We do not find any valid reason for reopening of assessment particularly when the original assessment was finalized on the basis of evidences produced by the assessee on the same claim made by him as per the dictate of the Revenue. Respectfully relying upon the ratio laid down in the above matter of the Jurisdicti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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