https://www.taxtmi.com/caselaws?id=334277 The High Court upheld the decision of the Income Tax Appellate Tribunal to quash the reassessment proceedings for Assessment Years 2002-03 and 2004-05. The Court found that the reopening notices by the Assessing Officer were based on a change of opinion rather than a valid reason to believe income had escaped assessment, in line with the precedent set in Commissioner of Income Tax Vs. Kelvinator of India. As a result, the Court dismissed the Revenue's appeals, ruling that there was no substantial question of law and no costs were awarded. en-us Tue, 25 Oct 2016 00:00:00 +0530 Tue, 08 Nov 2016 11:44:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334277 The High Court upheld the decision of the Income Tax Appellate Tribunal to quash the reassessment proceedings for Assessment Years 2002-03 and 2004-05. The Court found that the reopening notices by the Assessing Officer were based on a change of opinion rather than a valid reason to believe income had escaped assessment, in line with the precedent set in Commissioner of Income Tax Vs. Kelvinator of India. As a result, the Court dismissed the Revenue's appeals, ruling that there was no substantial question of law and no costs were awarded. Case-Laws Income Tax Tue, 25 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334277