https://www.taxtmi.com/caselaws?id=181300 The Appellate Tribunal ITAT Kolkata ruled in favor of the assessee in an appeal against the re-opening of assessment u/s.147 and addition made u/s.68 of the Income Tax Act for the assessment year 2004-05. The Tribunal found that the re-assessment was based on a mere change of opinion without new material or information, deeming it unsustainable in law. Consequently, the Tribunal quashed the orders of the revenue authorities, allowing the appeal of the assessee. en-us Thu, 12 Jan 2012 00:00:00 +0530 Wed, 13 Apr 2016 09:42:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181300 The Appellate Tribunal ITAT Kolkata ruled in favor of the assessee in an appeal against the re-opening of assessment u/s.147 and addition made u/s.68 of the Income Tax Act for the assessment year 2004-05. The Tribunal found that the re-assessment was based on a mere change of opinion without new material or information, deeming it unsustainable in law. Consequently, the Tribunal quashed the orders of the revenue authorities, allowing the appeal of the assessee. Case-Laws Income Tax Thu, 12 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181300