Shahrukh
Khan
&
Juhi
Chawla
The
department
claimed
that
Chawla
then
sold
her
shares
to
the
same
company
in
Mauritius
for
Rs
10
each.
Thus,
the
foreign
company
was
issued
90
lakh
shares
at
par
value,
while
the
actual
cost
of
share
at
the
time
of
sale
was
around
Rs
86
to
Rs
99
per
share.
This
resulted
in
a
loss
of
foreign
exchange
to
the
extent
of
Rs
73.6
crore.
Bench
Decision
The
bench,
however,
noted
that
in
2013,
an
assessing
officer
of
the
IT
department
had
looked
into
the
above
allegations,
and
after
being
satisfied
that
there
was
no
wrongdoing,
he
had
closed
the
case.
However,
the
department
issued
fresh
notices
in
2017
after
going
through
a
change
of
opinion
and
decided
to
reopen
the
case.
Prima
Facie
"The
assessing
officer
being
satisfied
with
the
valuation
of
shares,
submitted
by
the
assessee,
did
not
seek
any
further
information.
Therefore,
when
on
the
same
basis,
without
any
reasons
in
support
of
the
re-opening,
the
notice
proceeds,
it
prima
facie
appears
merely
to
be
change
of
opinion,"
the
bench
said.
Kolkata
Knight
Riders
"We
are
of
the
view
that
the
reasons
in
support
of
the
impugned
notice,
prima
facie,
proceed
on
a
change
of
opinion
and,
therefore,
prima
facie,
lacks
jurisdiction,"
it
added.
Khan,
along
with
Chawla
and
others,
owns
IPL
team
Kolkata
Knight
Riders.