https://www.taxtmi.com/caselaws?id=347720 The Tribunal held that the reassessment proceedings initiated by the Assessing Officer (AO) were invalid as they were based on a reappraisal of the same material, amounting to a change of opinion without new tangible material. The AO failed to demonstrate any omission or failure on the part of the assessee to disclose material facts fully and truly. Consequently, the Tribunal reversed the First Appellate Authority's order and decided the appeal in favor of the assessee, allowing the appeal for both assessment years. en-us Wed, 06 Sep 2017 00:00:00 +0530 Sat, 18 Nov 2017 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347720 The Tribunal held that the reassessment proceedings initiated by the Assessing Officer (AO) were invalid as they were based on a reappraisal of the same material, amounting to a change of opinion without new tangible material. The AO failed to demonstrate any omission or failure on the part of the assessee to disclose material facts fully and truly. Consequently, the Tribunal reversed the First Appellate Authority's order and decided the appeal in favor of the assessee, allowing the appeal for both assessment years. Case-Laws Income Tax Wed, 06 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347720