https://www.taxtmi.com/caselaws?id=192748 The High Court dismissed the revenue's appeal challenging the quashing of reassessment proceedings under Section 147 of the Income Tax Act, 1961. The Court emphasized the necessity of full and true disclosure of material facts by the assessee and highlighted that reassessment cannot be solely based on a change of opinion or incorrect application of law. The judgment underscored the limitations on initiating reassessment proceedings and concluded that no substantial question of law arose for consideration in this case. en-us Thu, 18 Oct 2012 00:00:00 +0530 Wed, 15 Apr 2026 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192748 The High Court dismissed the revenue's appeal challenging the quashing of reassessment proceedings under Section 147 of the Income Tax Act, 1961. The Court emphasized the necessity of full and true disclosure of material facts by the assessee and highlighted that reassessment cannot be solely based on a change of opinion or incorrect application of law. The judgment underscored the limitations on initiating reassessment proceedings and concluded that no substantial question of law arose for consideration in this case. Case-Laws Income Tax Thu, 18 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192748