https://www.taxtmi.com/caselaws?id=354378 The High Court quashed and set aside the Notice seeking to reopen the assessment for Assessment Year 1994-95 under Article 226 of the Constitution of India. The court held that the Notice was without jurisdiction as it was based on a change of opinion and did not present any new tangible material not previously available during the original assessment, which had already considered the issue of deemed dividend under Section 2(22)(e) of the Income Tax Act. The court ruled in favor of the petitioners, emphasizing the importance of tangible material to justify reopening an assessment. en-us Thu, 18 Jan 2018 00:00:00 +0530 Thu, 25 Jan 2018 09:53:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354378 The High Court quashed and set aside the Notice seeking to reopen the assessment for Assessment Year 1994-95 under Article 226 of the Constitution of India. The court held that the Notice was without jurisdiction as it was based on a change of opinion and did not present any new tangible material not previously available during the original assessment, which had already considered the issue of deemed dividend under Section 2(22)(e) of the Income Tax Act. The court ruled in favor of the petitioners, emphasizing the importance of tangible material to justify reopening an assessment. Case-Laws Income Tax Thu, 18 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354378