On writ the Court held that issue of notice\u00a0 \u00a0for the purpose of the proviso to section\u00a0147\u00a0qua denial of adjustments under section\u00a072A(1)(a)\u00a0by the Deputy Commissioner was inspired from a change of opinion as the assessee had disclosed the basis on which it had claimed deductions in the returns of income and it was pursuant thereto that the respective assessment orders were passed by the Assessing Officer. Therefore, there was no material suppression of facts on the part of the assessee to either truly or fully furnish the information that were required for completing the assessment. Therefore invocation of section\u00a0148\u00a0for the purpose of the proviso to section\u00a0147\u00a0was without jurisdiction. Court also directed the assessee to participate in the proceedings before the Deputy Commissioner and if in the course of such proceedings he concluded that there were other aspects within the purview of Explanation 3 to section\u00a0147\u00a0on which the assessment could be reopened, such income could be assessed or-reassessed. The Deputy Commissioner was however precluded from disturbing the benefits claimed and allowed under section\u00a072A(1)(a)\u00a0in the assessment orders. (AY. 2010-11, 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 147 : Reassessment-Loss-Carry forward and set off-Amalgamation of companies-Change of opinion-Reassessment was held to be not valid. [S. 72A(1)(a), 148, Art. 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-22146","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-5Lc","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/22146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=22146"}],"version-history":[{"count":4,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/22146\/revisions"}],"predecessor-version":[{"id":24119,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/22146\/revisions\/24119"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=22146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=22146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=22146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}