https://www.taxtmi.com/caselaws?id=68767 The Tribunal allowed the appeals of the assessee, quashing the reassessment orders for the assessment years 1988-89, 1989-90, 1990-91, and 1991-92. The reassessment proceedings were found to be invalid as they were based on a mere change of opinion and were time-barred. The notices issued under Section 148 were also held to be invalid. The Tribunal's decision was based on the principles that reassessment cannot be initiated on the basis of a mere change of opinion and that the limitation period for issuing notice under Section 148 must be strictly adhered to. en-us Mon, 07 Oct 2002 00:00:00 +0530 Thu, 21 Jun 2012 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68767 The Tribunal allowed the appeals of the assessee, quashing the reassessment orders for the assessment years 1988-89, 1989-90, 1990-91, and 1991-92. The reassessment proceedings were found to be invalid as they were based on a mere change of opinion and were time-barred. The notices issued under Section 148 were also held to be invalid. The Tribunal's decision was based on the principles that reassessment cannot be initiated on the basis of a mere change of opinion and that the limitation period for issuing notice under Section 148 must be strictly adhered to. Case-Laws Income Tax Mon, 07 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68767