https://www.taxtmi.com/caselaws?id=245050 The tribunal dismissed the Revenue's appeal in the case of M/s. Navionics Systems Pvt. Ltd. for the assessment year 2006-07. It held that the reopening of assessment under section 147 was not justified as the Assessing Officer did not have additional evidence beyond what was available during the original assessment. The tribunal emphasized that recording reasons for reopening amounted to a change of opinion, and the power to reopen cannot be used for a mere change of inference from the same facts. The tribunal also rejected the Revenue's arguments regarding non-disclosure of material facts by the assessee and upheld the CIT(A)'s decision. en-us Wed, 12 Mar 2014 00:00:00 +0530 Tue, 18 Mar 2014 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245050 The tribunal dismissed the Revenue's appeal in the case of M/s. Navionics Systems Pvt. Ltd. for the assessment year 2006-07. It held that the reopening of assessment under section 147 was not justified as the Assessing Officer did not have additional evidence beyond what was available during the original assessment. The tribunal emphasized that recording reasons for reopening amounted to a change of opinion, and the power to reopen cannot be used for a mere change of inference from the same facts. The tribunal also rejected the Revenue's arguments regarding non-disclosure of material facts by the assessee and upheld the CIT(A)'s decision. Case-Laws Income Tax Wed, 12 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245050