https://www.taxtmi.com/caselaws?id=240317 The Court held that the notice under Section 148 of the Income Tax Act lacked jurisdiction as it was based on a change of opinion rather than new tangible material. The reopening of the assessment beyond four years was also deemed invalid as the reasons for reassessment were already examined during the original assessment. The Court concluded that the petitioner had fully and truly disclosed all material facts necessary for assessment. Consequently, the Court quashed the notice and order, allowing the petition with no order as to costs. en-us Wed, 27 Nov 2013 00:00:00 +0530 Sat, 21 Feb 2015 14:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240317 The Court held that the notice under Section 148 of the Income Tax Act lacked jurisdiction as it was based on a change of opinion rather than new tangible material. The reopening of the assessment beyond four years was also deemed invalid as the reasons for reassessment were already examined during the original assessment. The Court concluded that the petitioner had fully and truly disclosed all material facts necessary for assessment. Consequently, the Court quashed the notice and order, allowing the petition with no order as to costs. Case-Laws Income Tax Wed, 27 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240317