https://www.taxtmi.com/caselaws?id=207786 HC quashed the reassessment proceedings initiated under Section 148, holding that the jurisdictional conditions under the proviso to Section 147 were not satisfied. In the original assessment, the Assessing Officer had specifically examined the nature of the non-compete fee and accepted it as revenue expenditure. The assessee had fully and truly disclosed all primary and material facts relating to the payment. The HC held that reopening cannot be based merely on a change of opinion or on the premise that the Assessing Officer had misapplied or misunderstood the law. As there was no failure to disclose material facts, the notice under Section 148 and consequent reassessment were declared invalid. en-us Thu, 01 Dec 2011 00:00:00 +0530 Wed, 15 Apr 2026 14:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207786 HC quashed the reassessment proceedings initiated under Section 148, holding that the jurisdictional conditions under the proviso to Section 147 were not satisfied. In the original assessment, the Assessing Officer had specifically examined the nature of the non-compete fee and accepted it as revenue expenditure. The assessee had fully and truly disclosed all primary and material facts relating to the payment. The HC held that reopening cannot be based merely on a change of opinion or on the premise that the Assessing Officer had misapplied or misunderstood the law. As there was no failure to disclose material facts, the notice under Section 148 and consequent reassessment were declared invalid. Case-Laws Income Tax Thu, 01 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207786