https://www.taxtmi.com/caselaws?id=242714 The Tribunal upheld the CIT(A)'s decision, ruling the reassessment null and void as the AO lacked fresh material to justify reopening the assessment under Section 147 of the Act. The reassessment, initiated beyond the 4-year limit, was deemed a mere change of opinion without new information warranting reopening. The judgment emphasized the importance of full disclosure by the assessee during the original assessment to prevent arbitrary reassessment and ensure procedural fairness, affirming that the notice u/s 148 was not in order. en-us Fri, 12 Jul 2013 00:00:00 +0530 Sun, 19 Jan 2014 09:49:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242714 The Tribunal upheld the CIT(A)'s decision, ruling the reassessment null and void as the AO lacked fresh material to justify reopening the assessment under Section 147 of the Act. The reassessment, initiated beyond the 4-year limit, was deemed a mere change of opinion without new information warranting reopening. The judgment emphasized the importance of full disclosure by the assessee during the original assessment to prevent arbitrary reassessment and ensure procedural fairness, affirming that the notice u/s 148 was not in order. Case-Laws Income Tax Fri, 12 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242714