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SUPREME COURT OF INDIA
M.R. SHAH, KRISHNA MURARI, JJ.
Pr. Commissioner Of Income Tax 2 - Petitioner
Vs.
Tata Sons Ltd. - Respondent
Special Leave Petition (Civil) Diary No. 15246 of 2020
Decided On : 06-09-2022
| Table of Content |
|---|
| 1. delay condoned. (Para 1) |
| 2. high court did not err in judgment. (Para 2) |
| 3. pending applications disposed. (Para 3) |
ORDER :
1. Delay condoned.
2. Having heard Shri N. Venkataraman, learned ASG appearing on behalf of the petitioner and having gone through the impugned judgment and order passed by the High Court, it appears that the reasons to re-open the assessment were recorded after issuance of the re-assessment notice and, therefore, it can be seen that at the time when the notice for assessment was issued, there was no subjective satisfaction, the High Court has not committed any error in setting aside re-assessment proceedings. We are in complete agreement with the view taken by the High Court. The Special Leave Petition stands dismissed.
3. Pending application(s) shall stand disposed of.
Re-opening of assessment is invalid if it constitutes a mere change of opinion without new findings or evidence.
The assessment order became void due to the issuance of a new notice under section 148, rendering earlier proceedings infructuous.
Reopening of assessment beyond four years without fresh tangible material or proper disposal of objections is illegal under the Income Tax Act.
The court affirmed that reopening of assessment under Section 148 is valid if the Assessing Officer has reason to believe that income has escaped assessment, based on credible information.
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