https://www.taxtmi.com/caselaws?id=251763 The High Court dismissed the Revenue's appeals regarding re-assessment proceedings for Assessment Years 2004-05 and 2005-06 under the Income Tax Act, 1961. The Tribunal set aside the re-assessment notice/order, citing a mere change of opinion by the Assessing Officer and the absence of failure to disclose material facts by the assessee. The Court emphasized that the Assessing Officer's actions amounted to a change of opinion based on previously disclosed information, which did not warrant re-opening under Section 147/148. Consequently, the Court found no merit in the appeals and ruled in favor of the assessee. en-us Fri, 29 Aug 2014 00:00:00 +0530 Sun, 28 Sep 2014 07:48:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251763 The High Court dismissed the Revenue's appeals regarding re-assessment proceedings for Assessment Years 2004-05 and 2005-06 under the Income Tax Act, 1961. The Tribunal set aside the re-assessment notice/order, citing a mere change of opinion by the Assessing Officer and the absence of failure to disclose material facts by the assessee. The Court emphasized that the Assessing Officer's actions amounted to a change of opinion based on previously disclosed information, which did not warrant re-opening under Section 147/148. Consequently, the Court found no merit in the appeals and ruled in favor of the assessee. Case-Laws Income Tax Fri, 29 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251763