https://www.taxtmi.com/caselaws?id=76916 The High Court of Bombay ruled on the validity of a notice issued by the Assistant Commissioner of Income-tax under section 148 of the Income-tax Act, 1961 for reopening assessments beyond four years. The court found that the notice lacked justification as there was no failure to disclose material facts and the basis for reopening was inconsistent with previous assessments and constituted a change of opinion. Consequently, the court quashed the notice, emphasizing the necessity of meeting jurisdictional conditions for reopening assessments beyond the prescribed time limit. en-us Wed, 17 Feb 2010 00:00:00 +0530 Wed, 02 Jan 2013 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76916 The High Court of Bombay ruled on the validity of a notice issued by the Assistant Commissioner of Income-tax under section 148 of the Income-tax Act, 1961 for reopening assessments beyond four years. The court found that the notice lacked justification as there was no failure to disclose material facts and the basis for reopening was inconsistent with previous assessments and constituted a change of opinion. Consequently, the court quashed the notice, emphasizing the necessity of meeting jurisdictional conditions for reopening assessments beyond the prescribed time limit. Case-Laws Income Tax Wed, 17 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76916