- (1.) Leave granted.
(2.) We have heard Learned Counsel on both sides.
(3.) The Assessee had disclosed full details in the Return of Income in the matter of its dealing in stocks and shares. According to the Assessee, the loss incurred was a business loss, whereas, according to the Revenue, the loss incurred was a speculative loss. Rejection of the objections of the Assessee to the re-opening of the assessment by the Assessing Officer vide his Order dated 23rd June, 2006, is clearly a change of opinion. In the circumstances, we are of the view that the order re-opening the assessment was not maintainable.;