https://www.taxtmi.com/caselaws?id=200895 The Appellate Tribunal ITAT Chennai upheld the decision that the reopening of the assessment for the impugned assessment year was invalid. The Tribunal found that the reassessment proceedings were initiated based on a change of opinion and not on any fresh or tangible materials, contrary to the requirements under the law. The Tribunal distinguished previous case law cited by the Revenue and concluded that the reassessment was impermissible. As a result, the Tribunal dismissed the Revenue's appeal, affirming the decision of the ld. Commissioner of Income Tax (Appeals) that the reassessment proceedings were invalid. en-us Wed, 26 Apr 2017 00:00:00 +0530 Tue, 01 May 2018 05:20:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200895 The Appellate Tribunal ITAT Chennai upheld the decision that the reopening of the assessment for the impugned assessment year was invalid. The Tribunal found that the reassessment proceedings were initiated based on a change of opinion and not on any fresh or tangible materials, contrary to the requirements under the law. The Tribunal distinguished previous case law cited by the Revenue and concluded that the reassessment was impermissible. As a result, the Tribunal dismissed the Revenue's appeal, affirming the decision of the ld. Commissioner of Income Tax (Appeals) that the reassessment proceedings were invalid. Case-Laws Income Tax Wed, 26 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200895