https://www.taxtmi.com/caselaws?id=361575 The Tribunal upheld the decision of the Ld. CIT(A) to annul the assessment made by the A.O. under section 143(3) / 147 of the Income Tax Act, 1961. The reopening of the assessment was deemed invalid as it was found to be based on a mere change of opinion without any new tangible material. Consequently, the additions made by the A.O. on account of undisclosed sales and unexplained purchases were not addressed separately. The revenue's appeal was dismissed, and the order was pronounced on 30th May 2018. en-us Wed, 30 May 2018 00:00:00 +0530 Fri, 08 Jun 2018 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361575 The Tribunal upheld the decision of the Ld. CIT(A) to annul the assessment made by the A.O. under section 143(3) / 147 of the Income Tax Act, 1961. The reopening of the assessment was deemed invalid as it was found to be based on a mere change of opinion without any new tangible material. Consequently, the additions made by the A.O. on account of undisclosed sales and unexplained purchases were not addressed separately. The revenue's appeal was dismissed, and the order was pronounced on 30th May 2018. Case-Laws Income Tax Wed, 30 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361575