https://www.taxtmi.com/caselaws?id=268732 The Tribunal found the Assessing Officer's reopening of the assessment under Section 147 of the Income Tax Act invalid due to the lack of consideration of relevant statutory provisions and absence of new tangible material. The reassessment proceedings were quashed, emphasizing the necessity of a direct nexus between belief formation and statutory provisions, and the impermissibility of reopening assessments based on a mere change of opinion. The appeal of the assessee was allowed. en-us Fri, 06 Nov 2015 00:00:00 +0530 Tue, 01 Dec 2015 00:55:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268732 The Tribunal found the Assessing Officer's reopening of the assessment under Section 147 of the Income Tax Act invalid due to the lack of consideration of relevant statutory provisions and absence of new tangible material. The reassessment proceedings were quashed, emphasizing the necessity of a direct nexus between belief formation and statutory provisions, and the impermissibility of reopening assessments based on a mere change of opinion. The appeal of the assessee was allowed. Case-Laws Income Tax Fri, 06 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268732