Supreme Court rules against reopening assessments based on subsequent legal changes.

The Supreme Court dismissed civil appeals concerning the reopening of assessments under Section 147/149(1A) of the Income Tax Act, 1961. Assessments cannot be reopened based on subsequent legal reversals if closed under the law as it stood at the relevant time. The appeals were dismissed due to the insignificant tax amount involved.

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The Supreme Court dismissed civil appeals regarding the reopening of assessments based on the limitation period under Section 147/149(1A) of the Income Tax Act, 1961. The Department cannot reopen assessments based on subsequent legal reversals if the assessment was closed under the law as it stood at the relevant time. Civil appeals were dismissed due to the meager tax amount involved.

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