https://www.taxtmi.com/caselaws?id=360871 The High Court set aside the notice of reopening for the assessment year 2012-13, ruling in favor of the petitioner, a private limited company engaged in diamond cutting and polishing. The court found that the Assessing Officer's attempt to reopen the assessment based on the same issue of capital gain/loss was impermissible as it amounted to a change of opinion. Since the issue had already been examined during the original assessment without adjustments, the court deemed the reopening unjustified and disposed of the matter in favor of the petitioner. en-us Wed, 07 Mar 2018 00:00:00 +0530 Thu, 24 May 2018 08:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360871 The High Court set aside the notice of reopening for the assessment year 2012-13, ruling in favor of the petitioner, a private limited company engaged in diamond cutting and polishing. The court found that the Assessing Officer's attempt to reopen the assessment based on the same issue of capital gain/loss was impermissible as it amounted to a change of opinion. Since the issue had already been examined during the original assessment without adjustments, the court deemed the reopening unjustified and disposed of the matter in favor of the petitioner. Case-Laws Income Tax Wed, 07 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360871