Ajit K.Sengupta, J. - (1.) In this reference under Section 256(1) of the Income-tax Act, 1961, for the assessment year 1979-80, the following questions of law have been referred to this court: "1. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the Income-tax Officer reopened the assessment under Section 147(b) of the Income-tax Act, 1961, on the ground of mere change of opinion ?
(2.) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the conditions for reopening the assessment under Section 147(b) of the said Act have not been satisfied in this case ?
(3.) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in confirming the order of the Commissioner of Income-tax (Appeals) cancelling the assessment framed by the Income-tax Officer under Section 143(3)7148 of the said Act ?" 2. The assessee is a registered firm. For the assessment year 1979-80, the original assessment was completed by the Income-tax Officer under Section 143(3) of the Income-tax Act, 1961, on October 3, 1981, The Income-tax Officer treated the cash subsidy of Rs. 15,62,293 as non-taxable keeping in view the Tribunal's order dated June 12, 1980, for the assessment year 1974-75 and the order of the Commissioner of Income-tax (Appeals) dated Feburary 18, 1981, for the assessment year 1978-79. The assessee also claimed weighted deduction under Section 35B in respect of certain items of expenditure. The Income-tax Officer allowed relief under Section 35B keeping in view the Inspecting Assistant Commissioner's direction under Section 144B dated April 3, 1980, for the assessment year 1978-79 and the order of the Commissioner of Income-tax (Appeals) dated February 18, 1981, for the same assessment year. 3. The successor Income-tax Officer who had framed the originaf assessment, however, reopened the assessment under Section 147(b).;