https://www.taxtmi.com/caselaws?id=255108 The Tribunal held that the Assessing Officer was unjustified in re-opening the assessment as it constituted a change of opinion, impermissible under the law. Emphasizing the importance of disclosing all relevant facts during the original assessment, the Tribunal dismissed the Revenue's appeal and upheld the decision of the First Appellate Authority. The judgment serves as a reminder of the limitations on the Assessing Officer's power to re-open assessments without valid reasons and highlights the need for a valid belief that income has escaped assessment. en-us Tue, 21 Oct 2014 00:00:00 +0530 Wed, 07 Jan 2015 19:46:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255108 The Tribunal held that the Assessing Officer was unjustified in re-opening the assessment as it constituted a change of opinion, impermissible under the law. Emphasizing the importance of disclosing all relevant facts during the original assessment, the Tribunal dismissed the Revenue's appeal and upheld the decision of the First Appellate Authority. The judgment serves as a reminder of the limitations on the Assessing Officer's power to re-open assessments without valid reasons and highlights the need for a valid belief that income has escaped assessment. Case-Laws Income Tax Tue, 21 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255108