Allowing the petition the Court held that the assessee had made adequate disclosures and based on them the assessment had been completed under section 143(3) by the Assessing Officer. The Assessing Officer could not take a different view for the AY. 2007-08 from that taken for the AY. 2008-09 by the Commissioner (Appeals) when the assessment was sought to be reopened under section 147 on similar grounds. No material was placed to show that the Department had appealed before the Tribunal against such order.-Reopening of the completed assessment based on change of opinion was-impermissible. (AY. 2007-08)
Cavinkare Pvt. Ltd. v. Dy.CIT (2021) 435 ITR 396/ 282 Taxman 69 (Mad.)(HC)
S. 147 : Reassessment-With in four years-Change of opinion-Commission paid Chairman-Cum-Managing Director-CIT (A) allowing the claim in subsequent assessment year which has became final-Reassessment is held to be impermissible. [S. 36(1)(ii), 148]