https://www.taxtmi.com/caselaws?id=334579 The Tribunal invalidated the notice issued under Section 148 of the Income Tax Act, 1961, due to the Assessing Officer's failure to allege any failure by the assessee to disclose material facts necessary for assessment. The reassessment was declared invalid, emphasizing the prohibition on reopening assessments solely based on a change of opinion without new tangible material. Consequently, the assessee's cross-objection was allowed, and the revenue's appeal was dismissed as academic. en-us Fri, 09 Sep 2016 00:00:00 +0530 Wed, 16 Nov 2016 17:06:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334579 The Tribunal invalidated the notice issued under Section 148 of the Income Tax Act, 1961, due to the Assessing Officer's failure to allege any failure by the assessee to disclose material facts necessary for assessment. The reassessment was declared invalid, emphasizing the prohibition on reopening assessments solely based on a change of opinion without new tangible material. Consequently, the assessee's cross-objection was allowed, and the revenue's appeal was dismissed as academic. Case-Laws Income Tax Fri, 09 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334579