JUDGMENT :

(Jitendra Jain, J.) :

1. Heard learned counsel for the parties.

2. Rule. Rule is made returnable immediately at the request of and with the consent of learned counsel for the parties.

3. This petition challenges notice under Section 148 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’) issued by the respondent No.1 for the assessment year 2014-15.

4. The reasons for re-opening were furnished to the petitioner on 25 November 2011 and the same reads as under :-

5. Ms. Vissanji, learned counsel for the petitioner submits that the impugned notice is issued after a period of 4 years from the end of the relevant assessment year and in the absence of any allegation of any failure to disclose fully and truly all material facts necessary for the assessment, impugned notice is barred by the first proviso to Section 147 of the Act. She further submits that the issue for which the re- opening is sought was raised in the course of the assessment proceedings and a reply was filed by the petitioner and same was considered in the assessment order. Therefore, based on this ground also the impugned proceedings would amount to change of opinion. She relied upon the decision in t