https://www.taxtmi.com/caselaws?id=63138 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision that the reassessment was not valid under section 147(a) of the IT Act. The Tribunal emphasized the lack of new material facts, the impermissibility of a mere change of opinion, and the need for independent consideration in reassessment cases. It also highlighted the importance of adhering to statutory requirements and consistency with previous Tribunal decisions on similar issues. en-us Wed, 09 Apr 1986 00:00:00 +0530 Fri, 28 Jan 2011 10:24:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63138 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision that the reassessment was not valid under section 147(a) of the IT Act. The Tribunal emphasized the lack of new material facts, the impermissibility of a mere change of opinion, and the need for independent consideration in reassessment cases. It also highlighted the importance of adhering to statutory requirements and consistency with previous Tribunal decisions on similar issues. Case-Laws Income Tax Wed, 09 Apr 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63138