https://www.taxtmi.com/caselaws?id=207301 The Tribunal held that the reassessment proceedings under section 143(3) read with section 147 were invalid as they were based on a mere change of opinion. The reassessment, initiated without new material post original assessment, was deemed impermissible. Consequently, the reassessment order and the addition of Rs. 4,09,13,500 under section 68 as unexplained cash credits were set aside in favor of the assessee. en-us Wed, 09 Mar 2011 00:00:00 +0530 Thu, 24 Nov 2011 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207301 The Tribunal held that the reassessment proceedings under section 143(3) read with section 147 were invalid as they were based on a mere change of opinion. The reassessment, initiated without new material post original assessment, was deemed impermissible. Consequently, the reassessment order and the addition of Rs. 4,09,13,500 under section 68 as unexplained cash credits were set aside in favor of the assessee. Case-Laws Income Tax Wed, 09 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207301