Section 147

Court :
HC

Brief :
Held by the Hon`ble Court that, what the court is required to check is whether material exists on record for the A.O. to form the "reason to believe" and mere change in opinion on an interpretation of a provision by itself without anything more can not give rise to "reason to believe". Therefore reassessment proceedings on this basis is not justified in law.

Citation :
Siemens Information Systems Ltd. Vs. A.C.I.T. And Others 10/11/2007 [2007] 295 ITR 333 (Bom)

Section 147 Siemens Information Systems Ltd. Vs. A.C.I.T. And Others 10/11/2007 [2007] 295 ITR 333 (Bom) Case Fact: Whether, where original assessment allowed deduction under section 10A and different A.O. in subsequent year not allowed it, reassessment proceedings on this basis is justified in law? Decision: Held by the Hon`ble Court that, what the court is required to check is whether material exists on record for the A.O. to form the "reason to believe" and mere change in opinion on an interpretation of a provision by itself without anything more can not give rise to "reason to believe". Therefore reassessment proceedings on this basis is not justified in law.