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BHARGAV D. KARIA, NIRAL R. MEHTA
Heubach Colour Private Limited – Appellant
Versus
Assistant Commissioner of Income Tax Circle 2 – Respondent
ORDER :
Niral R. Mehta, J.
1. Heard learned advocate Mr. Manish J. Shah for the petitioner and learned advocate Mr. Karan Sanghani for learned advocate Ms. Kalpana K. Raval for the respondent.
2. Rule returnable forthwith. Learned advocate Mr. Sanghani waives service of notice of Rule for the respondent.
3. By this petition under Article 226 of the Constitution of India, the petitioner has prayed for quashing and setting aside the notice dated 30th March 2019 issued by the respondent – Assessing Officer under Section 148 of the Income Tax Act, 1961 (for short, “the Act”) for the Assessment Year 2012-13.
4. The brief facts of the case are that the petitioner – company filed its return of income on 27th November 2012 for the Assessment Year 2012-13 declaring total income at Rs.10,86,70,260/- under the normal provisions of the Act and book profit of Rs.10,79,13,516/- under Section 115JB of the Act.
4.1 Along with the return of income, the petitioner also filed balance-sheet and profit and loss account. The case of the petitioner was taken up for scrutiny assessment and notices under Section 142(1) / 143(2) of the Act were issued which were complied with by the petitioner giving reply in det
Reopening of assessments under Section 148 requires new tangible material; a mere change of opinion does not suffice.
Reopening of assessments under section 148 requires fresh tangible material; reliance on prior records or audit objections alone is insufficient.
Reopening of assessments under the Income Tax Act requires new material facts; mere change of opinion is insufficient.
Reopening of assessment under the Income Tax Act requires tangible new material; mere change of opinion is insufficient.
Assessee’s objections raised against the reopening proceedings are not acceptable as the case warrants scrutiny on the same lines. Accordingly, the objections so raised are hereby disposed off accord....
The court emphasized the need for tangible material to believe that income had escaped assessment and held that the power to grant approval for re-opening an assessment is coupled with a duty and can....
Reopening of assessment under Section 148 is invalid if based on materials already available during the original assessment, constituting a mere change of opinion without fresh evidence.
Reopening of assessment under the Income Tax Act after four years is impermissible without failure to disclose material facts; mere change of opinion does not justify such action.
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