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TMI Blog2023 (2) TMI 718X X X X Extracts X X X X X X X X Extracts X X X X ..... rds in the order of assessment. An order of assessment u/s 143(3) having been passed must be deemed to have been passed after considering all material facts in regard to the queries raised which stood duly answered in terms of the judgment of Kelvinator of India Ltd. [ 2010 (1) TMI 11 - SUPREME COURT] as held that there was a difference between power to review and power to reassess u/s 147 and AO had no power to review and that, if the concept of change of opinion was removed, then, in the garb of reopening of the assessment, a review would take place. In the present case admittedly, between the date of the orders of assessment sought to be reopened and the date of forming of opinion by the Income-tax Officer nothing new has happe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of assessee at (-) Rs.59,95,891/-. 2. In this case, an information was received from the office from office of Deputy Director of Income Tax (Investigation) Unit 6(3), Mumbai dated 23.06.2017, that in the search action (u/s. 132/133A) in the case of M/s. Dyaneshwari Multi State Urban Cooperative Credit Society Limited (PAN : AABAD6102E), it was discovered by Investigation wing that during F.Y. 2015-16 F.Y. 2016-17, the assessee M/s. D.K. Realty had deposited Rs.9,65,50,000/- (Rs.7,50,00,000/- in F.Y. 2015-16 Rs.2,15,50,000/- in F.Y. 2016-17) in the said Credit society and on summons issued u/s. 131 of the Income Tax Act to the Assessee, it had stated that the funds deposited to M/s. Dyaneshwari Multi State Urban Credit Society were ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue notice under section 148 of the Income-tax Act, 1961 for A.Y. 2017-18 to reassess such income and also any other income chargeable to tax which has escaped assessment and which may come to notice subsequently in the course of proceedings under this section. 3. Learned counsel for the petitioner urged that the reopening of the assessment was nothing but a change of opinion which amounts to a review of the order of assessment which has repeatedly been held to be impermissible. Reliance in this regard has been placed on the judgment of the Delhi High Court in the case of Commissioner of Income-tax Vs. Kelvinator of India Ltd. [2010] 320 ITR 561 (SC). 4. It was urged that the basis for reopening as seen from the reasons recorded i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... order of assessment having been passed under section 143(3), the reassessment proceedings sought to be initiated ,would be a clear case of change of opinion, and would not satisfy the jurisdictional condition for the reopening under section 147 of the Act. 6. Admittedly, the assessment is sought to be reopened within a period of four years from the end of the relevant assessment year 2016-17, and therefore, it would not be necessary for the AO to establish that there had been any failure on the part of the assessee to furnish material facts fully and truly. However, notwithstanding the above requirement which is to operate additionally for a reopening beyond the period of four years, the AO had to have reason to believe that income cha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... so be raised to the effect that in terms of clause (e) of section 114 of the Indian Evidence Act the judicial and official acts have been regularly performed. If it be held that an order which has been passed purportedly without anything further, the same would amount to giving premium to an authority exercising quasi- judicial function to take benefit of its own wrong. 8. The Apex Court in Commissioner of Income Tax V/s. Kelvinator of India Ltd. [2010] 320 ITR 561 (SC) held that there was a difference between power to review and power to reassess under section 147 and that the AO had no power to review and that, if the concept of change of opinion was removed, then, in the garb of reopening of the assessment, a review would ..... X X X X Extracts X X X X X X X X Extracts X X X X
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