https://www.taxtmi.com/caselaws?id=328401 The High Court upheld the Tribunal's decision in a case involving the reopening of assessment under Section 147 of the Income Tax Act, 1961. The Court emphasized the importance of adhering to statutory provisions and limitations on reopening assessments beyond the prescribed period. It reiterated that reassessment cannot be initiated solely based on a change of opinion by the assessing officer, highlighting the need for valid grounds as per the provisions of the Act. en-us Wed, 18 Nov 2015 00:00:00 +0530 Fri, 03 Jun 2016 12:09:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328401 The High Court upheld the Tribunal's decision in a case involving the reopening of assessment under Section 147 of the Income Tax Act, 1961. The Court emphasized the importance of adhering to statutory provisions and limitations on reopening assessments beyond the prescribed period. It reiterated that reassessment cannot be initiated solely based on a change of opinion by the assessing officer, highlighting the need for valid grounds as per the provisions of the Act. Case-Laws Income Tax Wed, 18 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328401