https://www.taxtmi.com/caselaws?id=235225 The court ruled in favor of the petitioner, finding the notice under Section 148 invalid for reopening the assessment. It held that the reasons for reopening were based on a mere change of opinion, not permissible under the law. The court emphasized the importance of tangible material for reassessment post-1st April 1989. Additionally, it highlighted the necessity of complying with procedural requirements, including supplying reasons for reopening. The court invalidated the assessment and emphasized strict adherence to procedural norms, ultimately quashing the notice and ruling in favor of the petitioner with no costs awarded. en-us Mon, 08 Oct 2012 00:00:00 +0530 Tue, 16 Jul 2013 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235225 The court ruled in favor of the petitioner, finding the notice under Section 148 invalid for reopening the assessment. It held that the reasons for reopening were based on a mere change of opinion, not permissible under the law. The court emphasized the importance of tangible material for reassessment post-1st April 1989. Additionally, it highlighted the necessity of complying with procedural requirements, including supplying reasons for reopening. The court invalidated the assessment and emphasized strict adherence to procedural norms, ultimately quashing the notice and ruling in favor of the petitioner with no costs awarded. Case-Laws Income Tax Mon, 08 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235225