S. 147: There is no “change of opinion” if AO does not specifically apply his mind

CIT vs. Usha International Ltd (Delhi High Court – Full Bench)

The Full Bench was constituted to consider the meaning of the expression “change of opinion” for purposes of s. 147 and whether, in the light of Kelvinator 256 ITR 1 (Del FB), as approved in 320 ITR 521 (SC), in a case where the assessee has furnished full and true particulars at the time of original assessment with reference to the income alleged to have escaped assessment, the AO, even within 4 years from the end of the AY, could be said to have formed an opinion and to have no jurisdiction to reopen the assessment even though he had not raised any query with respect to the issue. HELD by the Full Bench: