M/S. Ccl Products India Limited vs The Assistant Commissioner Of Income ... on 29 January, 2025
In the case of Madurai Power Corporation Private Limited v. Deputy
Commissioner of Income Tax Circle-1 3, in W.P.No.15201 of 2019, dated
30.01.2020, the then Division Bench of the High Court observed at Para No.12
of the said judgment that Section 147 of the Act further states that the
Assessing Officer should have reason to believe that certain income has
escaped the assessment on the basis of new facts/information which has
come to his knowledge subsequently. Section does not confer any right to
review when there is no new material or facts drawing a different conclusion is
noticed.