Reassessment notice under ss. 147/148 for DTAA-based India income taxability struck down as impermissible change of opinion The dominant issue was the validity of a reassessment notice under ss. 147/148, where the reopening sought to reassess taxability of income alleged to ...
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Reassessment notice under ss. 147/148 for DTAA-based India income taxability struck down as impermissible change of opinion
The dominant issue was the validity of a reassessment notice under ss. 147/148, where the reopening sought to reassess taxability of income alleged to accrue or be deemed to accrue in India in the context of a DTAA. The HC held that the Tribunal, while deciding the assessee's appeal, had already examined the same material and relied on its earlier decision in a comparable case; the proposed reopening therefore amounted to a mere change of opinion, impermissible under s. 147, rendering the notice illegal. The SC found no reason to interfere and dismissed the revenue's civil appeals with costs.
The Supreme Court dismissed the civil appeals with costs after considering the facts and finding no reason to interfere with the decision of the High Court. (Supreme Court Citation: 2003 (1) TMI 101 - SC)
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