Assessing Officer not empowered to carry out Assessment based on mere Change of Opinion on Same set of facts and Materials, says Delhi HC   -   Relief to ESPN

The Delhi High Court ruled that the Assessing Officer (AO) is not empowered to carry out Assessment based on mere change of opinion on the same set of facts and materials.

Coram

Justice Rajeev Shakdher and Justice Talwant Singh

The AO‟s power under Section 147 of the Act does not extend to carry out the review of the material that was always available on record, and by this route conclude that the assessee‟s income chargeable to tax has escaped assessment.