https://www.taxtmi.com/caselaws?id=237960 The ITAT deemed the reopening of assessments under Section 147 invalid as it was a mere change of opinion without new material. The Assessee had provided all required details during the original assessment, and there was no failure to disclose material facts. The disallowance of unrealized interest on NPAs was also found incorrect on merits. Consequently, the appeals were allowed, and the reassessment orders were set aside by the ITAT. en-us Fri, 04 Oct 2013 00:00:00 +0530 Sat, 12 Oct 2013 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237960 The ITAT deemed the reopening of assessments under Section 147 invalid as it was a mere change of opinion without new material. The Assessee had provided all required details during the original assessment, and there was no failure to disclose material facts. The disallowance of unrealized interest on NPAs was also found incorrect on merits. Consequently, the appeals were allowed, and the reassessment orders were set aside by the ITAT. Case-Laws Income Tax Fri, 04 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237960