https://www.taxtmi.com/caselaws?id=351597 The Tribunal allowed the appeal, reinstating the original assessment order for the AY 2006-07. The reassessment under Section 147 was deemed a change of opinion without valid grounds, as the original assessment had considered relevant facts. The disallowance under Section 40A(3) was overturned due to the Commissioner's failure to address the assessee's submissions adequately. Additionally, the levy of interest under Sections 234-B and 234-C in the reassessment was deemed unjustified, leading to a ruling in favor of the assessee and emphasizing the importance of proper assessment procedures and adherence to legal provisions in income tax matters. en-us Wed, 22 Nov 2017 00:00:00 +0530 Tue, 28 Nov 2017 07:39:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351597 The Tribunal allowed the appeal, reinstating the original assessment order for the AY 2006-07. The reassessment under Section 147 was deemed a change of opinion without valid grounds, as the original assessment had considered relevant facts. The disallowance under Section 40A(3) was overturned due to the Commissioner's failure to address the assessee's submissions adequately. Additionally, the levy of interest under Sections 234-B and 234-C in the reassessment was deemed unjustified, leading to a ruling in favor of the assessee and emphasizing the importance of proper assessment procedures and adherence to legal provisions in income tax matters. Case-Laws Income Tax Wed, 22 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351597