https://www.taxtmi.com/caselaws?id=327737 The Tribunal quashed the reassessment proceedings initiated by the AO, holding them to be invalid and void ab initio. The appeal filed by the assessee was allowed, and the reassessment notice dated 31.03.2011 was quashed. The Tribunal emphasized the importance of independent application of mind by the AO and the necessity of having valid reasons to believe that income had escaped assessment. The reassessment based on a change of opinion and without proper verification was deemed invalid. en-us Fri, 19 Feb 2016 00:00:00 +0530 Wed, 18 May 2016 08:27:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327737 The Tribunal quashed the reassessment proceedings initiated by the AO, holding them to be invalid and void ab initio. The appeal filed by the assessee was allowed, and the reassessment notice dated 31.03.2011 was quashed. The Tribunal emphasized the importance of independent application of mind by the AO and the necessity of having valid reasons to believe that income had escaped assessment. The reassessment based on a change of opinion and without proper verification was deemed invalid. Case-Laws Income Tax Fri, 19 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327737