https://www.taxtmi.com/caselaws?id=345855 The court quashed the notice issued for re-opening the assessment for AY 2003-04 under Section 147/148 of the Income Tax Act. The reasons provided by the AO did not meet the legal requirements for re-opening, as there was no failure by the Assessee to fully disclose material facts necessary for assessment. The court emphasized that re-opening should not be based on a mere change of opinion and must clearly indicate the Assessee's failure to disclose material facts. en-us Wed, 26 Jul 2017 00:00:00 +0530 Mon, 13 Nov 2017 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345855 The court quashed the notice issued for re-opening the assessment for AY 2003-04 under Section 147/148 of the Income Tax Act. The reasons provided by the AO did not meet the legal requirements for re-opening, as there was no failure by the Assessee to fully disclose material facts necessary for assessment. The court emphasized that re-opening should not be based on a mere change of opinion and must clearly indicate the Assessee's failure to disclose material facts. Case-Laws Income Tax Wed, 26 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345855