https://www.taxtmi.com/caselaws?id=345702 The High Court ruled in favor of the petitioner, quashing the notice issued under Section 148 of the Income Tax Act for reopening the assessment for Assessment Year 2002-03. The Court emphasized that a mere change of opinion by the Assessing Officer is not sufficient grounds for reopening an assessment when there is no income that has escaped assessment. The judgment underscored the importance of consistency and adherence to legal principles in assessment proceedings, highlighting that reassessment should not be based solely on a change of opinion without substantial grounds. en-us Thu, 13 Jul 2017 00:00:00 +0530 Tue, 25 Jul 2017 07:56:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345702 The High Court ruled in favor of the petitioner, quashing the notice issued under Section 148 of the Income Tax Act for reopening the assessment for Assessment Year 2002-03. The Court emphasized that a mere change of opinion by the Assessing Officer is not sufficient grounds for reopening an assessment when there is no income that has escaped assessment. The judgment underscored the importance of consistency and adherence to legal principles in assessment proceedings, highlighting that reassessment should not be based solely on a change of opinion without substantial grounds. Case-Laws Income Tax Thu, 13 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345702