https://www.taxtmi.com/caselaws?id=208843 The court dismissed the petition seeking to quash a notice under Section 148 of the Income Tax Act and an order rejecting objections to the reassessment notice. The Assessing Officer's decision was not a mere change of opinion but based on income escaping assessment due to impermissible deductions claimed by the petitioner. The court distinguished relevant case laws and emphasized the legal framework post-1.4.1989. It held that the reassessment was valid as no satisfactory assessment had been previously made, clarifying the distinction between reassessment based on a change of opinion and reassessment due to income escaping assessment. en-us Sat, 23 Oct 2010 00:00:00 +0530 Tue, 31 Jan 2012 08:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208843 The court dismissed the petition seeking to quash a notice under Section 148 of the Income Tax Act and an order rejecting objections to the reassessment notice. The Assessing Officer's decision was not a mere change of opinion but based on income escaping assessment due to impermissible deductions claimed by the petitioner. The court distinguished relevant case laws and emphasized the legal framework post-1.4.1989. It held that the reassessment was valid as no satisfactory assessment had been previously made, clarifying the distinction between reassessment based on a change of opinion and reassessment due to income escaping assessment. Case-Laws Income Tax Sat, 23 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208843