https://www.taxtmi.com/caselaws?id=346660 The Tribunal held that the reopening of the assessment under Section 147 of the Income Tax Act was invalid as it was based on a mere change of opinion without new tangible material. The Tribunal emphasized that reassessment on the same material considered during the original assessment is impermissible. Consequently, the assessment order was quashed, and the assessee's appeal was allowed, setting aside the order passed by the Commissioner of Income Tax (Appeals). en-us Fri, 30 Jun 2017 00:00:00 +0530 Mon, 21 Aug 2017 08:09:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346660 The Tribunal held that the reopening of the assessment under Section 147 of the Income Tax Act was invalid as it was based on a mere change of opinion without new tangible material. The Tribunal emphasized that reassessment on the same material considered during the original assessment is impermissible. Consequently, the assessment order was quashed, and the assessee's appeal was allowed, setting aside the order passed by the Commissioner of Income Tax (Appeals). Case-Laws Income Tax Fri, 30 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346660