https://www.taxtmi.com/caselaws?id=209591 The court quashed the notice issued under Section 148 of the Income-tax Act, 1961, for reopening assessment for the assessment year 2005-06, along with all related proceedings. The court found that the Assessing Officer lacked jurisdiction as there was no basis to believe income had escaped assessment, given that the tax paid exceeded the amount computed for reopening. The court held that the reopening was invalid as it was based on a mere change of opinion without new material, ultimately ruling in favor of the petitioner and making the rule absolute with no costs. en-us Mon, 24 Jan 2011 00:00:00 +0530 Fri, 12 Jul 2013 18:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209591 The court quashed the notice issued under Section 148 of the Income-tax Act, 1961, for reopening assessment for the assessment year 2005-06, along with all related proceedings. The court found that the Assessing Officer lacked jurisdiction as there was no basis to believe income had escaped assessment, given that the tax paid exceeded the amount computed for reopening. The court held that the reopening was invalid as it was based on a mere change of opinion without new material, ultimately ruling in favor of the petitioner and making the rule absolute with no costs. Case-Laws Income Tax Mon, 24 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209591