https://www.taxtmi.com/caselaws?id=251875 The court ruled in favor of the petitioner, quashing the notice under Section 148 of the Income Tax Act for the assessment year 2006-2007. The court held that reassessment cannot be solely based on a change of opinion and emphasized the importance of following procedural requirements and legal principles. The judge concluded that the reasons provided for reassessment did not meet the necessary legal standards, leading to the decision to allow the writ application and invalidate the notice and subsequent actions related to the reassessment. en-us Mon, 29 Sep 2014 00:00:00 +0530 Fri, 14 Aug 2015 16:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251875 The court ruled in favor of the petitioner, quashing the notice under Section 148 of the Income Tax Act for the assessment year 2006-2007. The court held that reassessment cannot be solely based on a change of opinion and emphasized the importance of following procedural requirements and legal principles. The judge concluded that the reasons provided for reassessment did not meet the necessary legal standards, leading to the decision to allow the writ application and invalidate the notice and subsequent actions related to the reassessment. Case-Laws Income Tax Mon, 29 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251875