https://www.taxtmi.com/caselaws?id=264566 The Tribunal upheld the CIT(A)'s decision to quash the reassessment proceedings initiated under section 147 of the Income-tax Act, 1961. It was held that the reassessment was based on a mere change of opinion by the Assessing Officer without any new material facts, which is impermissible under section 147. The Tribunal also affirmed the classification of royalty expenses as revenue expenditure, consistent with prior judicial decisions. The Revenue's appeal was dismissed, and the order was pronounced on 23/09/2015. en-us Wed, 23 Sep 2015 00:00:00 +0530 Mon, 28 Sep 2015 10:21:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264566 The Tribunal upheld the CIT(A)'s decision to quash the reassessment proceedings initiated under section 147 of the Income-tax Act, 1961. It was held that the reassessment was based on a mere change of opinion by the Assessing Officer without any new material facts, which is impermissible under section 147. The Tribunal also affirmed the classification of royalty expenses as revenue expenditure, consistent with prior judicial decisions. The Revenue's appeal was dismissed, and the order was pronounced on 23/09/2015. Case-Laws Income Tax Wed, 23 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264566