https://www.taxtmi.com/caselaws?id=336636 The court held that the reopening of the assessment for the Assessment Year 2011-12 under Section 148 of the Income Tax Act was not justified. It ruled that the reasons for reopening amounted to a change of opinion, which is impermissible. The court found that the petitioner validly claimed exemption under Section 10(38) for long-term capital gains and that the alleged interest payment without TDS deduction did not warrant reopening. The notice and reassessment order were quashed, emphasizing that the original assessment was thorough and valid. en-us Tue, 29 Nov 2016 00:00:00 +0530 Mon, 13 Nov 2017 18:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336636 The court held that the reopening of the assessment for the Assessment Year 2011-12 under Section 148 of the Income Tax Act was not justified. It ruled that the reasons for reopening amounted to a change of opinion, which is impermissible. The court found that the petitioner validly claimed exemption under Section 10(38) for long-term capital gains and that the alleged interest payment without TDS deduction did not warrant reopening. The notice and reassessment order were quashed, emphasizing that the original assessment was thorough and valid. Case-Laws Income Tax Tue, 29 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336636