https://www.taxtmi.com/caselaws?id=216337 The tribunal quashed the reassessment proceedings initiated under Section 147 and deleted the addition on account of bad debt. The tribunal held that the reopening of the assessment was invalid as it was based on a change of opinion and did not satisfy the conditions of the first proviso to Section 147. The tribunal also held that the disallowance of the bad debt claim was not justified as the appellant had complied with the requirements of Section 36(1)(vii) by writing off the debt as irrecoverable in their accounts. Consequently, the appeal of the assessee was allowed. en-us Fri, 07 May 2010 00:00:00 +0530 Fri, 31 May 2013 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216337 The tribunal quashed the reassessment proceedings initiated under Section 147 and deleted the addition on account of bad debt. The tribunal held that the reopening of the assessment was invalid as it was based on a change of opinion and did not satisfy the conditions of the first proviso to Section 147. The tribunal also held that the disallowance of the bad debt claim was not justified as the appellant had complied with the requirements of Section 36(1)(vii) by writing off the debt as irrecoverable in their accounts. Consequently, the appeal of the assessee was allowed. Case-Laws Income Tax Fri, 07 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216337