(M.R. Shah and B.V. Nagarathna, JJ.)
Petition(s) for Special Leave to Appeal (C) No(s). 21134/2019, decided on August 4, 2022
Pr. Commissioner of Income Tax 2 and Others __________ Petitioner(s);
v.
State Bank of India _______________________________ Respondent.
(IA No. 122865/2019 – Exemption From Filing C/C of the Impugned Judgment)
Petition(s) for Special Leave to Appeal (C) No(s). 21134/2019; WP No. 3588/2018; and IA No. 122865/2019
The Order of the court was delivered by
Order
1. We have heard Mr. N. Venkataraman, learned ASG, appearing for the petitioner(s) and Mr. S.K. Bagaria, learned Senior Advocate, appearing for the respondent.
2. We have gone through the impugned judgment and order passed by the High Court by which the High Court, vide detailed judgment and order, has quashed and set aside the re-assessment proceedings and re-opening of the assessment in exercise of powers under Sections 147/148 of the Income Tax Act. From the material on record, it can be seen that the re-opening of the assessment was solely on change of opinion of the Assessing Officer and therefore, the High Court has rightly set aside the same.
3. We see no reason to interfere with the impugned judgment and order passed by the High Court. As such, we are in complete agreement with the view taken by the High Court setting aside the re-assessment proceedings/re-opening of the assessment.
4. The Special Leave Petition stands dismissed.
5. Pending application stands disposed of.
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