A.Srinivasan, Erode vs Assessee
No doubt, it was held by
the Hon'ble Mumbai High Court in Asteroids Trading & Inv. P.Ltd.
(supra) that a different view on same set of facts with no new
material would not be sufficient reason for reopening. This view was
also taken by Hon'ble Delhi High Court in the cases of Satnam
Overseas Ltd. and Legato Systems (India) P. Ltd. (supra). But in our
opinion these decisions will not help the assessee. In the first place,
here there was misrepresentation by the assessee in its returns filed
and in the second place there was no application of mind by the A.O
on the claim made by the assessee. On the other hand, as
aforesaid, subsequent material was available with the A.O to show
that income might have escaped assessment.