https://www.taxtmi.com/caselaws?id=334053 The court dismissed the petition challenging the notice issued under Section 148 of the Income-Tax Act, 1961, for the Assessment Year 2007-08. It held that the reopening of assessment was valid as there was no "change of opinion" since the original return was accepted without scrutiny. The court emphasized the need for the petitioner to meet the statutory conditions for exemption under Sections 11 and 12 during reassessment. The petition was deemed meritless, and the rule was discharged with no order as to costs. en-us Mon, 03 Oct 2016 00:00:00 +0530 Wed, 02 Nov 2016 18:15:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334053 The court dismissed the petition challenging the notice issued under Section 148 of the Income-Tax Act, 1961, for the Assessment Year 2007-08. It held that the reopening of assessment was valid as there was no "change of opinion" since the original return was accepted without scrutiny. The court emphasized the need for the petitioner to meet the statutory conditions for exemption under Sections 11 and 12 during reassessment. The petition was deemed meritless, and the rule was discharged with no order as to costs. Case-Laws Income Tax Mon, 03 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334053