Supreme Court dismisses reassessment based on change of opinion in Income-tax Act

The Supreme Court dismissed the Special Leave Petition as the reassessment was deemed impermissible due to being based on a change of opinion after specific queries were addressed during the original assessment under Section 143 of the Income-tax Act, 1961. The High Court overturned the reassessment proceedings.

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The Supreme Court of India dismissed the Special Leave Petition as the re-opening of assessment was based on a change of opinion, which was not permissible after specific queries were answered during the original assessment under Section 143 of the Income-tax Act, 1961. The High Court set aside the reassessment proceedings.

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