https://www.taxtmi.com/caselaws?id=350698 The court ruled in favor of the petitioner in a challenge to a notice issued under Section 147 of the Income-tax Act, 1961 for reassessing income for the assessment year 1996-97. The court found the reopening of the assessment unsustainable, deeming it a change of opinion without valid reason for income escapement. As there was no allegation against the petitioner for failure to disclose material facts, the court quashed the notice and assessment order, allowing the petitioner's success in the writ petition. The court ordered the notice for reopening assessment and consequent assessment order to be quashed, closing the connected Miscellaneous Petition without costs. en-us Wed, 11 Oct 2017 00:00:00 +0530 Fri, 10 Nov 2017 10:24:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350698 The court ruled in favor of the petitioner in a challenge to a notice issued under Section 147 of the Income-tax Act, 1961 for reassessing income for the assessment year 1996-97. The court found the reopening of the assessment unsustainable, deeming it a change of opinion without valid reason for income escapement. As there was no allegation against the petitioner for failure to disclose material facts, the court quashed the notice and assessment order, allowing the petitioner's success in the writ petition. The court ordered the notice for reopening assessment and consequent assessment order to be quashed, closing the connected Miscellaneous Petition without costs. Case-Laws Income Tax Wed, 11 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350698