The Tribunal held that reopening of assessment was on the basis of information that was already available on record and no fresh information was received by the AO. Revisiting the same issue which was already considered in original assessment and taken the decision amounts to difference of opinion and on difference of opinion the reopening of assessment is not permissible. The Tribunal held that the reopening of assessment is bad in law and accordingly, quashed the notice issued u/s 148 and annul the assessment. (AY.2012-13)
Ramya Hospitals v. ITO (2021) 62 CCH 29 / 211 TTJ 36 (UO) (Vishakha)(Trib.)
S. 147 : Reassessment-Initial year was AY 2010-11 wherein AO after detailed verification allowed the deduction-Subsequent year i.e. AY 2013-14 also deduction was allowed-Reopening is nothing but change of opinion and hence quashed. [S. 80IB(11C), 148]