https://www.taxtmi.com/caselaws?id=273663 The High Court of Gujarat dismissed the Revenue's appeal against the Income Tax Appellate Tribunal's decision to quash the reopening of assessment for the assessment year 2007-08. The Tribunal held that the reassessment based on a mere change of opinion was not valid. The court upheld this view, emphasizing the necessity for valid grounds in reassessment processes. The judgment reinforces the requirement for thorough examination and justification before reopening assessments to uphold fairness and legal principles in tax matters. en-us Tue, 25 Jul 2017 00:00:00 +0530 Mon, 09 Jul 2018 08:20:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273663 The High Court of Gujarat dismissed the Revenue's appeal against the Income Tax Appellate Tribunal's decision to quash the reopening of assessment for the assessment year 2007-08. The Tribunal held that the reassessment based on a mere change of opinion was not valid. The court upheld this view, emphasizing the necessity for valid grounds in reassessment processes. The judgment reinforces the requirement for thorough examination and justification before reopening assessments to uphold fairness and legal principles in tax matters. Case-Laws Income Tax Tue, 25 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273663