Reopening of assessment on change of opinion is not permitted :HC
Facts of the case During the previous year under consideration the assessee has inter-alia credited a sum of Rs. 5,05,33,63,209/- directly into the General Reserve Accounts in the Balance Sheet as “profit on sale of investment” without routing it through the profit and loss account of the corresponding year. AO’s contention:- Income of Rs. 5,05,33,63,209′-… Read More »