AO cannnot review assessment order-Reassessment order quashed

JM Financial Asset Management Limited Vs DCIT (ITAT Mumbai) Assessing Officer is only entitled to reopen the assessment, but he cannot review an assessment in the sense that there cannot be a rethinking or different opinion on the same material, which was the subject matter of the original assessment proceedings. Thus, bearing these principles in mind, if we examine the case on hand, we need to scrutinize as to whether the reopening was a change of opinion and was there any attempt to review the original order of assessment. There cannot be adjudication into the merits or roving enquiry into t...