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The reasons in support of the impugned notice is the very issue in respect of which the Assessing Officer has raised the query dated 25 September 2017 during the assessment proceedings and the Petitioner had responded to the same by its letters dated 10 December 2017 and 21 December 2017 justifying its stand. The non-rejection of the explanation in the Assessment Order would amount to the Assessing Officer accepting the view of the assessee, thus taking a view/forming an opinion. Therefore, in these circumstances, the reasons in support of the impugned notice proceed on a mere change of opinion and therefore would be completely without jurisdiction in the present facts. Accordingly, the impugned notice dated 27 March 2019 is quashed and set-aside.

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Sec. 115JB & 147 of the Income-tax Act, 1961—Minimum alternate tax - By notice issued under Section 148 of the Act, the assessment was sought to be re-opened. While accepting the challenge to the issuance of notice, High Court held that non-rejection of the explanation in the AO would amount to the AO accepting the view of the assessee and the reasons in support of the impugned notice proceed on a mere change of opinion and therefore would be completely without jurisdiction. Supreme Court dismissed the SLP of the revenue. - ASSTT. CIT V/s MARICO LTD. - [2020] 315 CTR 159 (SC)