(1.) The petitioner has challenged the notice dated 7.2.2014 issued by the respondent-Assessing Officer seeking to reopen the assessment of the petitioner for the assessment year 2009-2010.
(2.) Facts in brief are as under:
(3.) Learned counsel Mr. Soparkar for the petitioner took us to the documents on record and submitted that the notice for reopening was bad in law. Original assessment was framed after thorough scrutiny. Assessing Officer had examined the petitioner's claim of having earned exempt income from agricultural operations. The petitioner was called upon to produce several documents which the petitioner had supplied. Such documents included the accounts of the firm, the details of the sale of wood made to various agencies and other relevant documents. It is only after examining such materials that the Assessing Officer passed the order of assessment in which he made no dis-allowances. It was therefore open for the Assessing Officer to reopen such assessment since the same would amount to a mere change of opinion. Placing heavy reliance on Supreme Court in the case of Commissioner of Income-Tax v. (1) Kelvinator of India Ltd.(2010) 320 ITR 561 (SC) learned counsel contended that on mere change of opinion re-opening of assessment of a return which had been scrutinized before acceptance would be permissible.