https://www.taxtmi.com/caselaws?id=245714 The court ruled in favor of the petitioner, holding that the reassessment proceedings were not justified. It found that the petitioner had fully disclosed all material facts necessary for the assessment year and that the reassessment was based on a mere change of opinion. Consequently, the notice issued under Section 148 and the reassessment proceedings initiated by the Deputy Commissioner of Income Tax were deemed invalid, with no costs awarded. en-us Wed, 05 Mar 2014 00:00:00 +0530 Sat, 05 Apr 2014 15:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245714 The court ruled in favor of the petitioner, holding that the reassessment proceedings were not justified. It found that the petitioner had fully disclosed all material facts necessary for the assessment year and that the reassessment was based on a mere change of opinion. Consequently, the notice issued under Section 148 and the reassessment proceedings initiated by the Deputy Commissioner of Income Tax were deemed invalid, with no costs awarded. Case-Laws Income Tax Wed, 05 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245714