Reassessment based on a mere change of opinion is impermissible absent fresh material supporting escaped income.

Reassessment is invalid where the original assessment has already been completed on scrutiny and best judgment, and no fresh material emerges to justify reopening. A mere suspicion that cement consumption or construction value was understated, without new relevant material, amounts only to a change of opinion on the same record and cannot support a valid belief that income or turnover escaped assessment. The note states that the reassessment proceedings and consequential order were liable to be quashed, and the reopening was set aside for want of fresh material.

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Issues: Whether reassessment proceedings and the consequential reassessment order were valid in the absence of any fresh material, where the original assessment had already been completed on best judgment and affirmed in appeal.

Analysis: The original assessment had already proceeded on scrutiny of the record and on best judgment, and the appellate authority had confirmed it. The permission to reopen the assessment was founded only on the view that cement consumption and the value of construction work appeared higher than disclosed. No new material came to light after the original assessment to justify reopening. Reassessment cannot rest on mere suspicion, presumption, conjecture, or a mere change of opinion on the same material; there must be material giving rise to a valid belief that income or turnover had escaped assessment.

Conclusion: The reassessment proceedings were invalid and the impugned orders were liable to be quashed. The issue is decided in favour of the assessee.

Final Conclusion: The writ petition was allowed and the orders permitting reopening and making reassessment were set aside because the reopening was based only on a change of opinion without fresh material.

Ratio Decidendi: Reassessment cannot be sustained unless it is founded on fresh and relevant material, and reopening the completed assessment on a mere change of opinion is impermissible.

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