The Hon’ble Gujarat High Court quashed the re-opening proceedings holding that the same were based on a set of facts which was already examined during the original assessment proceedings and therefore, there is a change of opinion on the assessing officer’s part. Aggrieved, the Department filed a Special Leave Petition before the Hon’ble Supreme Court with a delay of 489 days which was not condoned. Accordingly, the special leave petition was dismissed.(AY. 2012-13)
ACIT v. AIM Fincon (P.) Ltd. (2024) 301 Taxman 169 (SC) Editorial : AIM Fincon (P) Ltd v.ACIT(2024) 166 taxmann.com 680 (Guj)(HC)
S. 147: Reassessment-With in four years-Change of opinion-Reopening on same set of facts invalid-The reasons assigned for explaining the delay of 489 days in filing SLP are neither satisfactory or sufficient in law for condonation-SLP of Revenue is dismissed. [S. 68, Art. 136]