THE INSTITUTE OF INDIAN FOUNDRYMEN,KOLKATA vs. ITO,WARD-1(3), EXEMPT,KOLKATA, KOLKATA

At the outset, the ld. Counsel for the assessee has invited our attention to the impugned order of the CIT(A) to submit that the assessee before the ld. CIT(A) had taken legal ground relating to the validity of the reopening of the assessment and also contested the additions made by the Assessing Officer on merits. The ld. Counsel has invited our attention to para 5 page 7 of the impugned order from where the discussion on the legal ground taken by the assessee relating to the validity of the reopening of the assessment commences and the Assessment Year: 2010-11 The Institute of Indian Foundrymen concluding/finding of the aforesaid issue has been given at page 21 of the impugned order of the CIT(A), whereby, the ld. CIT(A) has decided the aforesaid legal issue in favour of the assessee. The concluding part of the order of the CIT(A), on this issue, is reproduced as under:

From the reasons recorded by the AO I find that no new material or information was available with the AO for re-opening. I also find that the AO had made inquiry for the same issue during the original assessment proceedings. Though the AO in the remand report has claimed that the re- opening is done on the basis of new information in the form of 26AS statement, but the same was already available with the AO during the course of original assessment proceedings on the basis of which the addition was made during the course of original assessment proceedings. Therefore I agree with the contention of the appellant that the assessment is re-opened on the basis of change of opinion, hence the re-opening of the assessment is not valid has held by the Hon'ble Apex court in the case of CEAT Ltd dated 10/10/2022 as relied upon by the appellant. In view of the above, the grounds of appeal raised by the appellant are allowed.