https://www.taxtmi.com/caselaws?id=254049 The Court ruled in favor of the petitioner in a case challenging the reopening of assessment under Section 148 of the Income-tax Act, 1961 for the year 2007-08 beyond the four-year limit. The Court held that the reasons for reopening, including discrepancies in accounts and non-deduction of tax, were already addressed during the original assessment and did not constitute valid grounds. The assessment was set aside, emphasizing that the reopening was based on impermissible grounds of a mere change of opinion. en-us Fri, 05 Dec 2014 00:00:00 +0530 Thu, 11 Dec 2014 05:57:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254049 The Court ruled in favor of the petitioner in a case challenging the reopening of assessment under Section 148 of the Income-tax Act, 1961 for the year 2007-08 beyond the four-year limit. The Court held that the reasons for reopening, including discrepancies in accounts and non-deduction of tax, were already addressed during the original assessment and did not constitute valid grounds. The assessment was set aside, emphasizing that the reopening was based on impermissible grounds of a mere change of opinion. Case-Laws Income Tax Fri, 05 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254049