https://www.taxtmi.com/caselaws?id=257944 The tribunal dismissed the departmental appeals and the cross-objection of the assessee, upholding the CIT(A)'s decision to annul the reassessment proceedings. The tribunal emphasized that reassessment based on a mere change of opinion is invalid, and the original assessment had correctly applied the law regarding Explanation to Section 73. en-us Tue, 27 Jan 2015 00:00:00 +0530 Fri, 27 Mar 2015 05:39:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257944 The tribunal dismissed the departmental appeals and the cross-objection of the assessee, upholding the CIT(A)'s decision to annul the reassessment proceedings. The tribunal emphasized that reassessment based on a mere change of opinion is invalid, and the original assessment had correctly applied the law regarding Explanation to Section 73. Case-Laws Income Tax Tue, 27 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257944