JUDGMENT

(Judgment of the Court was delivered by T.S.SIVAGNANAM, ACJ.)

1. This appeal by the revenue filed under Section 260A of the Income Tax Act, 1961 (the Act) is directed against the common order passed by the Income Tax Appellate Tribunal, A Bench, Kolkata (Tribunal) dated 23.10.2019 in ITA No. 1582 and 1583/Kol/2016 and ITA No. 1909 and 1910/Kol/2016 for the AY 2008-09 and 2009-10. The revenue has raised the following substantial questions of law for consideration:

(i) Whether on the facts and circumstances and in law, the Income Tax Appellate Tribunal was erred in holding that there was change of opinion involved in the reopening the case of the assessee overlooking Explanation 1 of Section 147 of the Income Tax Appellate Tribunal, 1961 which postulates that production before the Assessing of accounts books or other evidence will not necessarily amount to disclosure within the meaning of the proviso?

(ii) Whether on the facts and circumstances and in law, the Income Tax Appellate Tribunal was erred in holding that the conditions of Section 47 (xiii) of the Income Tax Appellate Tribunal, 1961 had been complied with by the assessee although the assessee had converted the stock