https://www.taxtmi.com/caselaws?id=333304 The court upheld the validity of the notice issued under Section 148 of the Income Tax Act, 1961, as it was based on new tangible material following audit objections. It found no violation of principles of natural justice and deemed the re-assessment proceedings legitimate, emphasizing the assessing officer's independent opinion formation. The court rejected the argument that the re-assessment was a result of a change of opinion, stating it was supported by new information. Consequently, the court dismissed the writ petition, affirming the validity of the re-assessment proceedings. en-us Wed, 28 Sep 2016 00:00:00 +0530 Fri, 20 Jan 2017 18:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333304 The court upheld the validity of the notice issued under Section 148 of the Income Tax Act, 1961, as it was based on new tangible material following audit objections. It found no violation of principles of natural justice and deemed the re-assessment proceedings legitimate, emphasizing the assessing officer's independent opinion formation. The court rejected the argument that the re-assessment was a result of a change of opinion, stating it was supported by new information. Consequently, the court dismissed the writ petition, affirming the validity of the re-assessment proceedings. Case-Laws Income Tax Wed, 28 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333304