In absence of new facts reopening of already examined issue was invalid

Mina Kumari Sahoo Vs ITO (ITAT Cuttack) As observed by Hon’ble Supreme Court in the case of CIT Vs Kelvinator of India Ltd (320 ITR 561), one has to give a schematic interpretation to the words “reason to believe” failing which, section 147 would give arbitrary powers to the Assessing Officer to re-open assessments on the basis of “mere change of opinion”, which cannot be per se reason to reopen. A reassessment has to be based on fulfilment of certain pre-condition and if the concept of “change of opinion” is removed, as was contended on behalf of the Department before Hon’ble ...