https://www.taxtmi.com/caselaws?id=2401 The court ruled in favor of the petitioner, quashing the notice issued under section 148 of the Income Tax Act, 1961. The court held that the notice was invalid as it was based on a mere change of opinion without new material or information justifying reassessment. The court emphasized that reassessment cannot be solely justified by a new assessing officer's differing interpretation of provisions. Therefore, the petition was allowed, and the notice under section 148 was annulled. en-us Thu, 11 Oct 2007 00:00:00 +0530 Tue, 03 Jan 2017 17:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2401 The court ruled in favor of the petitioner, quashing the notice issued under section 148 of the Income Tax Act, 1961. The court held that the notice was invalid as it was based on a mere change of opinion without new material or information justifying reassessment. The court emphasized that reassessment cannot be solely justified by a new assessing officer's differing interpretation of provisions. Therefore, the petition was allowed, and the notice under section 148 was annulled. Case-Laws Income Tax Thu, 11 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2401