The Assessee was partially disallowed exemption u/s. 10(26BBB) under the original assessment u/s 143(3). The assessee is incorporation u/s. 617 of the Companies Act, 1956, with the objective to work towards welfare and up liftment of ex-servicemen of state of Uttarakhand. Subsequently, the case was reopened u/s 147 of the Act after expiry of four years and the entire claim of exemption u/s 10(26BBB) was disallowed. ITAT opines that it is apparent that action u/s 147 was solely for the purpose of enhancing the disallowance of claim of exemption u/s 10(26BBB) already made in the original assessment u/s 143(3), which is impermissible and not in accordance with spirit of section 147 of the Act. The reasons recorded fail to satisfy the dual jurisdictional requirements as per law. ITAT relies on decision of Hon’ble Uttarakhand High Court in the case of Oil and Natural Gas Corp. Ltd. v. DCIT [2003] 262 ITR 648 and concludes that notice u/s 148 is not in consonance with established legal principles and is vitiated on dual count of change of opinion as well as first proviso to section 147 of the Act. (AY. 2009-10)