Dismissing the appeal of the revenue the Court held that the Tribunal was justified in annulling the reassessment order on the ground that it was barred by limitation under the proviso to section 147. While making the addition in question, the assessing authority himself had admitted that despite the addition having been made in the income, the penalty for concealment had not been initiated under section 271(1)(c) since no aspect of concealment on the part of the assessee was found. But the addition to the income was on account of change of opinion. The Tribunal had categorically held that there was no failure on the part of the assessee, but disclosed the relevant facts and therefore, merely on the basis of the audit objection or change of opinion and reassessment under sections 147 and 148 could not be made beyond the period of four years from the end of the relevant assessment year. (AY.1997-98)