Commissioner of Income-tax (Exemptions), Jaipur v. Rajasthan Housing Board
[Citation -2017-LL-1129-16]

Citation 2017-LL-1129-16
Appellant Name Commissioner of Income-tax (Exemptions), Jaipur
Respondent Name Rajasthan Housing Board
Court HIGH COURT OF RAJASTHAN
Relevant Act Income-tax
Date of Order 29/11/2017
Judgment View Judgment
Keyword Tags change of opinion • question of law • profit on sale • housing board
Bot Summary: Counsel for the appellant has framed following substantial questions of law:- i) Whether on the facts and circumstances of the case and in law, the ld. In view of the decision of this Court in Tax Appeal No. 193/2017 decided on 27th November, 2017 and another decision of the Supreme Court in case of Commissioner of Income Tax-VI, New Delhi vs. Usha International Ltd. 2012 25 taxmann.com 200(FB) wherein it has been held as under:- 6.The questions of law at serial Nos. The expression change of opinion postulates formation of opinion and then a change thereof. In the context of Section 147 of the Act it implies that the Assessing Officer should have formed an opinion at the first instance, i.e., in the proceedings under Section 143(3) and now by initiation of the reassessment proceeding, the Assessing Officer proposes or wants to take a different view. In the context of assessment proceedings, it means formation of belief by an Assessing Officer resulting from what he thinks on a particular question. Question of change of opinion arise when an Assessing Officer forms an opinion and decides not to make an addition or holds that the assessee is correct and accepts his position or stand. In view of the above, no substantial question of law arises.


HIGH COURT OF JUDICATURE FOR RAJASTHAN BENCH AT JAIPUR D.B. Income Tax Appeal No. 345 / 2017 Commissioner of Income Tax (Exemptions), Kailash Heights, 3rd Floor, Lal Kothi, Tonk Road, Jaipur-302015 ----Appellant Versus Rajasthan Housing Board, Janpath, Jyoti Nagar, Jaipur ----Respondent For Appellant(s) : Mr. Daksh Pareek for Mr. Sameer Jain For Respondent(s) : Mr. Sanjay Jhanwar HON'BLE MR. JUSTICE K.S. JHAVERI HON'BLE MR. JUSTICE VIJAY KUMAR VYAS Judgment 29/11/2017 1. By way of this appeal, appellant has assailed judgment and order of Tribunal whereby Tribunal has dismissed appeal of department. 2. Counsel for appellant has framed following substantial questions of law:- i) Whether on facts and circumstances of case and in law, ld. ITAT was correct in quashing assessment completed u/s 147/143(3) of IT Act, 1961, as it raised question of law as to interpretation of explanation (1) to section 147 of IT Act, 1961. ii) Whether on facts and in circumstances of case and in law, ld. ITAT was correct in deleting addition of Rs. 11,97,65,913/- made on account of Contingency and Equalization Reserve? iii) Whether on facts and in circumstances (2 of 3) [ITA-345/2017] of case Hon ble ITAT was correct in deleting addition of Rs. 5,01,09,174/- made on account of profit on sale of auctioned property? 3. However, in view of decision of this Court in Tax Appeal No. 193/2017 (Commissioner of Income Tax vs. Rajasthan Housing Board) decided on 27th November, 2017 and another decision of Supreme Court in case of Commissioner of Income Tax-VI, New Delhi vs. Usha International Ltd. [2012] 25 taxmann.com 200 (Delhi)(FB) wherein it has been held as under:- 6.The questions of law at serial Nos. 1 to 3 referred to Full Bench are inter-connected. They deal with term and facets of term "change of opinion". expression "change of opinion" postulates formation of opinion and then change thereof. In context of Section 147 of Act it implies that Assessing Officer should have formed opinion at first instance, i.e., in proceedings under Section 143(3) and now by initiation of reassessment proceeding, Assessing Officer proposes or wants to take different view. 8. In context of assessment proceedings, it means formation of belief by Assessing Officer resulting from what he thinks on particular question. It is result of understanding, experience and reflection to use words in Law Lexicon by P. Ramanatha Aiyar. Question of change of opinion arise when Assessing Officer forms opinion and decides not to make addition or holds that assessee is correct and accepts his position or stand. 4. In view of above, no substantial question of law arises. 5. Hence, appeal stands dismissed. (VIJAY KUMAR VYAS)J. (K.S. JHAVERI)J. (3 of 3) [ITA-345/2017] A.Sharma/100 Commissioner of Income-tax (Exemptions), Jaipur v. Rajasthan Housing Board
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