https://www.taxtmi.com/article/detailed?id=1107 Reassessment based solely on re-evaluating material already furnished and considered by the Assessing Officer amounts to a mere change of opinion and is impermissible; reopening must be grounded in new material not available or considered at the time of the original assessment. Arithmetic methods such as applying average closing stock prices to annual sales or revisiting depreciation and PF/ESI deductions on the same record do not, without fresh evidence, justify reassessment. en-us Fri, 28 Jan 2011 22:59:55 +0530 Fri, 28 Jan 2011 22:59:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1107 Reassessment based solely on re-evaluating material already furnished and considered by the Assessing Officer amounts to a mere change of opinion and is impermissible; reopening must be grounded in new material not available or considered at the time of the original assessment. Arithmetic methods such as applying average closing stock prices to annual sales or revisiting depreciation and PF/ESI deductions on the same record do not, without fresh evidence, justify reassessment. Articles Income Tax Fri, 28 Jan 2011 22:59:55 +0530 https://www.taxtmi.com/article/detailed?id=1107