Section 147, 148, 154 of Income Tax Act, 1961—Reopening of assessment— In the instant case, petitioner has challenged the re-assessment proceedings initiated against him and prayed for issuing a writ of certiorari quashing the impugned notice dated 29.03.2014 issued under section 148.

proceedings under section 148 of the Act were initiated by issuing a notice dated 29.03.2014 on the ground that the petitioner has declared a huge amount of sundry creditors as on 31.03.2007 in the name of two concerns, viz., M/s Dulbecco Meyer & Company Limited and La-grand Consumables at 34,30,503/- and 45,57,750/- respectively, which lacked due confirmation/ verification.

the petitioner has tried to argue that the Income Tax Officer must have reasons to believe that the income chargeable to tax had either been underassessed or escaped assessment and such escapement or under-assessment was occasioned by reason of omission or failure on the part of the assessee to disclose fully and truly all material facts necessary for the assessment and the Income Tax Officer must have reasons to believe that the income chargeable to tax had either been under-assessed or escaped assessment.

Held that—In the case, in hand, the Assessing Authority had applied its mind and passed the original assessment order and there is no fresh material on record permitting the respondent – Department to initiate re-assessment proceedings. The impugned notice dated 29.03.2014 amounts to change of opinion on the same set of facts, which were available at the time of passing the original assessment order.

This Court is of the opinion that the initiation of the re-assessment proceedings is bad in law and is liable to be set aside.[PAWAN SOOD VERSUS INCOME TAX OFFICER KANPUR] [2019] 10 ITCD Online (16) [ALLAHABAD HIGH COURT]