Allowing the petition the Court held that the AO after satisfying himself with the correctness of the claim made in the return has passed the assessment order without any addition or disallowance and on the basis of the same records, issuance of notice under section 148 of the Act tantamount to be on the basis of the change of opinion which is impermissible in the eyes of law. (AY. 2017-18)
Adani Power Rajasthan Ltd. v. Asst. CIT (2023) 150 taxmann.com 136 / (2024) 461 ITR 210 (Guj)(HC)
S. 147 : Reassessment-Audit objection-Corporate Social responsibility-Reopening of assessment on perusal of the records available during the course of assessment proceedings-Amounts to change of opinion-Reassessment notice and order disposing the objection is quashed. [S. 37(1), 148, Art. 226]