https://www.taxtmi.com/caselaws?id=326445 The court held that the notice issued under Section 148 of the Income Tax Act for reopening the assessment was illegal as it was based on a mere change of opinion. The court found that the Assessing Officer had accepted the valuation report and exemption claim during the original assessment, making the reopening unjustified. Consequently, the court quashed the notice and allowed the petition with no costs. en-us Mon, 28 Mar 2016 00:00:00 +0530 Tue, 30 Aug 2016 18:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326445 The court held that the notice issued under Section 148 of the Income Tax Act for reopening the assessment was illegal as it was based on a mere change of opinion. The court found that the Assessing Officer had accepted the valuation report and exemption claim during the original assessment, making the reopening unjustified. Consequently, the court quashed the notice and allowed the petition with no costs. Case-Laws Income Tax Mon, 28 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326445