TATA EDUCATION TRUST ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION) CIRCLE 2(1) , MUMBAI

ITA 4055/MUM/2024Status: DisposedITAT Mumbai25 August 2025AY 2009-10Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)1 pages
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What did the Tribunal hold?

The Tribunal held that the reopening of assessment was not permissible as it was based on a change of opinion and not on any new tangible material. The Tribunal found that the AO had considered the dividend income and accumulation in the original assessment. Therefore, the reassessment order was quashed.

What were the facts?

The assessee, a charitable trust, filed its return of income claiming dividend income as exempt. The Assessing Officer (AO) reopened the assessment after 4 years, citing failure to disclose material facts regarding dividend income and accumulation of funds. The assessee argued that the reopening was based on a change of opinion and that the issues were already considered in the original assessment.

What were the issues?

Whether the reopening of assessment under Section 147 was valid when based on a change of opinion and without new material? Whether the dividend income and accumulation were properly considered in the original assessment?

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 11(1)(a),Section 10(34),Section 10(35),Section 154

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Income Tax Appellate Tribunal, “E” BENCH MUMBAI

Before: SHRI AMIT SHUKLA & SHRI GIRISH AGRAWAL

Hearing: 09.06.2025Pronounced: 25.08.2025

PER GIRISH AGRAWAL, ACCOUNTANT MEMBER:

AY 2009-10 Appeals in and ITA No. 4055/Mum/2024 are cross appeals filed by the revenue and assessee against the order of ld. CIT(A), National Faceless Appeal Centre (NFAC), Delhi vide order no. ITBA/NFAC/S/250/2024-25/1065668175(1), dated 14.06.2024 passed against the assessment order by DCIT (Exemption) – 2(1), Mumbai, u/s. 143

The order continues below.

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