https://www.taxtmi.com/caselaws?id=219441 The court held that the notice issued under Section 148 of the Income Tax Act and the subsequent reassessment proceedings were beyond jurisdiction and unsustainable. It was determined that the reassessment was initiated solely based on a change of opinion without any concrete evidence that income had escaped assessment. Consequently, the court quashed the notice and the reassessment proceedings, ruling in favor of the petitioner without any costs imposed. en-us Thu, 06 Dec 2012 00:00:00 +0530 Fri, 14 Dec 2012 08:59:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219441 The court held that the notice issued under Section 148 of the Income Tax Act and the subsequent reassessment proceedings were beyond jurisdiction and unsustainable. It was determined that the reassessment was initiated solely based on a change of opinion without any concrete evidence that income had escaped assessment. Consequently, the court quashed the notice and the reassessment proceedings, ruling in favor of the petitioner without any costs imposed. Case-Laws Income Tax Thu, 06 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219441