https://www.taxtmi.com/caselaws?id=184879 The court ruled in favor of Vatika Limited, finding the Notice dated 14.09.2009 issued under sections 147/148 of the Income Tax Act, 1961, invalid. The re-assessment proceedings were deemed to be based on a change of opinion, which was not a valid ground for initiating re-assessment. The court emphasized the need for tangible material to justify re-opening and found the reasons to believe insufficient. As a result, a Writ of Certiorari was issued quashing the Notice, rendering any re-assessment order void, with no costs awarded. en-us Tue, 10 Apr 2012 00:00:00 +0530 Sat, 23 Jul 2016 11:41:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184879 The court ruled in favor of Vatika Limited, finding the Notice dated 14.09.2009 issued under sections 147/148 of the Income Tax Act, 1961, invalid. The re-assessment proceedings were deemed to be based on a change of opinion, which was not a valid ground for initiating re-assessment. The court emphasized the need for tangible material to justify re-opening and found the reasons to believe insufficient. As a result, a Writ of Certiorari was issued quashing the Notice, rendering any re-assessment order void, with no costs awarded. Case-Laws Income Tax Tue, 10 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184879