Review of order, on same set of facts & material, is impermissible

ACIT Vs Joseph Selvakumar Selvan (ITAT Chennai) Upon careful consideration, it could be gathered that the return of income was already scrutinized u/s 143(3) and the issue of computation of capital gain was duly examined by Ld. AO. The requisite queries were raised by Ld. AO which were duly replied by the assessee along with documentary evidences. Having satisfied with the assessee’s replies, Ld. AO accepted the claim of the assessee. Subsequently, the case was reopened on the basis of audit objection wherein an opinion was expressed that the gains so earned should be assessed as ‘Business...