https://www.taxtmi.com/caselaws?id=277006 Reassessment under Section 147 of the Income-tax Act was held impermissible where it was initiated only on an audit objection and a reappraisal of the same record, without fresh tangible material or new information. Applying the settled reassessment framework, the Delhi High Court found the Revenue's challenge untenable and declined interference with the Tribunal's view that reopening was not justified. The Court also recorded that no question of law arose on the facts found, and the reassessment notice was unwarranted. en-us Fri, 09 Feb 2018 00:00:00 +0530 Wed, 21 Nov 2018 21:27:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277006 Reassessment under Section 147 of the Income-tax Act was held impermissible where it was initiated only on an audit objection and a reappraisal of the same record, without fresh tangible material or new information. Applying the settled reassessment framework, the Delhi High Court found the Revenue's challenge untenable and declined interference with the Tribunal's view that reopening was not justified. The Court also recorded that no question of law arose on the facts found, and the reassessment notice was unwarranted. Case-Laws Income Tax Fri, 09 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277006