https://www.taxtmi.com/caselaws?id=261803 The ITAT Delhi dismissed the department's appeal, affirming the CIT(A)'s decision to quash the reassessment proceedings under sections 147/148 of the Income Tax Act for the assessment year 2004-05. The reassessment was found to be invalid as it was initiated without jurisdiction and based on a change of opinion rather than new material. Additionally, the ITAT upheld the deletion of additions on repair and maintenance, building expenses, and design and art work expenses, emphasizing that reassessments should not be solely based on a change of opinion. en-us Wed, 08 Jul 2015 00:00:00 +0530 Thu, 23 Jul 2015 07:48:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261803 The ITAT Delhi dismissed the department's appeal, affirming the CIT(A)'s decision to quash the reassessment proceedings under sections 147/148 of the Income Tax Act for the assessment year 2004-05. The reassessment was found to be invalid as it was initiated without jurisdiction and based on a change of opinion rather than new material. Additionally, the ITAT upheld the deletion of additions on repair and maintenance, building expenses, and design and art work expenses, emphasizing that reassessments should not be solely based on a change of opinion. Case-Laws Income Tax Wed, 08 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261803