{"id":23966,"date":"2022-01-12T15:19:56","date_gmt":"2022-01-12T09:49:56","guid":{"rendered":"https:\/\/itatonline.org\/digest\/shaspayee-paper-boards-ltd-v-uoi-2021-198-dtr-97-319-ctr-293-mad-hc\/"},"modified":"2022-01-12T15:19:56","modified_gmt":"2022-01-12T09:49:56","slug":"shaspayee-paper-boards-ltd-v-uoi-2021-198-dtr-97-319-ctr-293-mad-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/shaspayee-paper-boards-ltd-v-uoi-2021-198-dtr-97-319-ctr-293-mad-hc\/","title":{"rendered":"Shaspayee Paper &#038; Boards Ltd v. UOI (2021) 198 DTR 97 \/ 319 CTR 293 (Mad ) (HC)"},"content":{"rendered":"<p>The assessment was completed u\/s 143 of the Act . The revision order was passed , on appeal the \u00a0Tribunal quashed the revision order. The writ was filed against the issue of notice . Single judge dismissed \u00a0the petition . On appeal the division bench held that there was no failure to disclose any material facts \u00a0. The Court held that unless there is a fresh tangible material available with the Department, the question of reopening the assessments based on the material already available on record is impermissible. As pointed in the decision of the Hon\u2019ble Supreme Court in the case of\u00a0 CIT v. <em>Kelvinator of India Ltd. <\/em><em>( 2010 ) 320 ITR 561 (SC) <\/em><em>\u00a0<\/em>what is to be borne in mind is the conceptual difference between the power of review and the power to re-assess, that the Assessing Officer has no power to review, but he has a power to reassess, that the reassessment should be based on fulfillment of certain preconditions and that if the concept of change of opinion is removed, then in the garb of reopening the assessment, review would take place. This is precisely what the Department seeks to do in the cases on hand. Accordingly the reassessment notice was quashed . \u00a0(AY. 1995 -96, 1996 -97 , 1997 -98 \u00a0)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.147: Reassessment \u2013 After the expiry of four years &#8211;  Depreciation \u2013 Undisclosed income \u2013 No failure to disclose material facts -No power to review the order \u2013 Notice issued to reopen the assessment was quashed [ S.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-23966","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-6ey","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23966","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=23966"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23966\/revisions"}],"predecessor-version":[{"id":23967,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23966\/revisions\/23967"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=23966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=23966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=23966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}