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TMI Blog2022 (4) TMI 1327X X X X Extracts X X X X X X X X Extracts X X X X ..... erence and/or discussion to disclose its satisfaction in respect of the query raised. The issues have been subject of consideration before the AO during the original assessment proceedings. There can be no doubt in the present facts, the very issue of incentives to the senior executives and the difference in the VAT turnover was a subject matter of consideration by the Assessing Officer during the original assessment proceedings. It would therefore, follow that the re-opening of the assessment by the impugned notice is merely on the basis of change of opinion from that held earlier during the course of assessment proceedings. This change of opinion does not constitute justification and/or reasons to believe that income chargeable to tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ere is a difference of ₹ 20,01,84,990/-. So, these two amounts have escaped assessment. Petitioner filed its objections to the re-opening which came to be rejected by an Order dated 24th February, 2022, which is also impugned. 4. Dr. Shivaram submitted that though the re-opening of assessment is proposed within the expiry of four years from the end of relevant assessment year, and the proviso to Section 147 of the Act may not strictly apply, nevertheless since an assessment has been completed and an assessment order under Section 143(3) of the Act has been passed, proposing to re-open on change of opinion is not permissible. 5. Mr. Suresh Kumar without filing any reply submitted that as regards the incentives to the senior emplo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of the Assessing Officer while completing the assessment. It is not necessary that an assessment order should contain reference and/or discussion to disclose its satisfaction in respect of the query raised. 8. In this case by a notice dated 7th August, 2019 issued under Section 142(1) of the Act, the Assessing Officer had called upon Petitioner to give details of payments made to the persons covered by section 40A(2)(b). Petitioner submitted replies dated 19th August, 2019, 19th October, 2019 and 14th November, 2019 giving details of the payments made. By a notice dated 21st September, 2019 issued under Section 142(1) of the Act, the Assessing Officer had called upon Petitioner to furnish copies of quarterly VAT returns for all the q ..... X X X X Extracts X X X X X X X X Extracts X X X X
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