Law:

Section:

Section 147, read with section 72A, of the Income-tax Act, 1961 - Income escaping assessment - Non disclosure of primary facts - Assessment year 2000-01 - One company 'D' was amalgamated with assessee-company - Assessee claimed benefit of section 72A to have unabsorbed depreciation of company 'D' as depreciation of assessee - Assessing Officer granted benefit of section 72A to assessee - Subsequently, Assessing Officer issued a notice under section 148 to assessee on ground that section 72A would not apply to assessee's case - Whether since there was no change of law and no fresh material had come on record enabling Assessing Officer to invoke powers under section 147, it could be said that instant case was a case of mere change of opinion which did not provide jurisdiction to Assessing Officer to initiate proceedings under section 147 and, therefore, impugned notice under section 148 issued to assessee was to be quashed - Held, yes FACTS The assessee-company was running hospitals in different parts of the country. Thereafter, one company 'D' was amalgamated with the assessee-company. The assessee-company claimed benefit under section 72A to have unabsorbed depreciation of 'D' as the depreciation of the assessee. The Assessing Officer, by his notice issued under section 142, asked the assessee to furnish certain details. The assessee, furnished all the particulars sought for. The Assessing Officer completed the assessment and granted benefit to the assessee under section 72A. Subsequently, the Assessing Officer issued a notice on the ground that section 72A would not apply, since the assessee was neither an industrial undertaking nor a company owning a ship. The assessee filed the instant petition, challenging the notice under section 148. In writ, the assessee contended that all the relevant facts were disclosed to the Assessing Officer and the Assessing Officer, having deliberated upon the entitlement of the petitioner, had allowed the claim and the assessment was sought to be reopened merely on the ground of change of opinion by the Assessing Officer on the same facts. HELD The Assessing Officer cannot reopen the assessment order passed by mere change of…

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