https://www.taxtmi.com/caselaws?id=342458 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to quash the reassessment proceedings. The notice issued under section 148 of the Income Tax Act was deemed invalid due to being served after the transfer of jurisdiction, and the reopening of assessment under section 147 was considered unlawful as it was based on a change of opinion without new material evidence. The Tribunal's ruling aligned with the Supreme Court's precedent, emphasizing the necessity of complying with legal requirements for reopening assessments. en-us Wed, 26 Apr 2017 00:00:00 +0530 Mon, 08 Aug 2022 15:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342458 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to quash the reassessment proceedings. The notice issued under section 148 of the Income Tax Act was deemed invalid due to being served after the transfer of jurisdiction, and the reopening of assessment under section 147 was considered unlawful as it was based on a change of opinion without new material evidence. The Tribunal's ruling aligned with the Supreme Court's precedent, emphasizing the necessity of complying with legal requirements for reopening assessments. Case-Laws Income Tax Wed, 26 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342458