https://www.taxtmi.com/caselaws?id=208768 The court quashed the notice and reassessment order under section 148 of the Income-tax Act, 1961 for the assessment year 2005-06. The court found that the reassessment was not based on any fresh information indicating income escapement but rather on a change of opinion. Citing the case law of CIT v. Kelvinator of India Ltd., the court emphasized the distinction between review and reassessment. As the successor Assessing Officer did not meet the prerequisites for reassessment, the court allowed the petition without costs imposed. en-us Mon, 12 Apr 2010 00:00:00 +0530 Fri, 14 Dec 2012 17:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208768 The court quashed the notice and reassessment order under section 148 of the Income-tax Act, 1961 for the assessment year 2005-06. The court found that the reassessment was not based on any fresh information indicating income escapement but rather on a change of opinion. Citing the case law of CIT v. Kelvinator of India Ltd., the court emphasized the distinction between review and reassessment. As the successor Assessing Officer did not meet the prerequisites for reassessment, the court allowed the petition without costs imposed. Case-Laws Income Tax Mon, 12 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208768