AO in the original assessment proceedngs the AO has raised a specif query as regards amortisation of brnad value and allowability of depreciation. The query was replied and after examining the reply the assessment was completed . AO issued notice of reassessment on the ground that income escaped assessment by reason of failure on the part of the assessee to disclose fully and truly all material facts .\u00a0 On writ the Court held that once the issue is raised in the original assessment and examined by the AO\u00a0 , issue of notice for same issue will amount to change of opinion hence the reassessment notice is bad in law . Followed CIT v Ketvinator of India Ltd (2010) 320 ITR 561 (SC) GKN Sinter Metals Ltd v ACIT ( 2015) 371 ITR 225 ( Bom) (HC)\u00a0 (AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"
S.147: Reassessment \u2013 Change of opinion- Amortisation of barnd value – Query raised and responded – Issue examined in the original assessment proceedings \u2013 Reassessement is held to be bad in law [ S.115JB 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":[1],"tags":[],"class_list":["post-9211","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2oz","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9211","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=9211"}],"version-history":[{"count":4,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9211\/revisions"}],"predecessor-version":[{"id":12956,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9211\/revisions\/12956"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=9211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=9211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=9211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}