https://www.taxtmi.com/caselaws?id=262804 The court ruled in favor of the petitioner, finding that the reassessment of the assessment year 2009-10 under Section 147 of the Income Tax Act was invalid. The court held that the reassessment notices were based on a mere change of opinion by the Assessing Officer (AO) and lacked new tangible evidence, which is impermissible under the law. Consequently, the court quashed the reassessment notices and proceedings, emphasizing that reassessment on such grounds is not allowed. en-us Tue, 05 May 2015 00:00:00 +0530 Thu, 20 Aug 2015 10:09:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262804 The court ruled in favor of the petitioner, finding that the reassessment of the assessment year 2009-10 under Section 147 of the Income Tax Act was invalid. The court held that the reassessment notices were based on a mere change of opinion by the Assessing Officer (AO) and lacked new tangible evidence, which is impermissible under the law. Consequently, the court quashed the reassessment notices and proceedings, emphasizing that reassessment on such grounds is not allowed. Case-Laws Income Tax Tue, 05 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262804