https://www.taxtmi.com/caselaws?id=372199 The Tribunal found that the AO's reopening of the assessment under section 147/148 of the Income Tax Act was invalid as it was solely based on a change of opinion without any new tangible material. The Tribunal emphasized that reassessment cannot be founded on a mere change of opinion and noted that all relevant details were disclosed during the original assessment. Consequently, the Tribunal allowed the appeal, setting aside the reassessment proceedings initiated by the AO. en-us Tue, 09 Oct 2018 00:00:00 +0530 Wed, 19 Dec 2018 08:09:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372199 The Tribunal found that the AO's reopening of the assessment under section 147/148 of the Income Tax Act was invalid as it was solely based on a change of opinion without any new tangible material. The Tribunal emphasized that reassessment cannot be founded on a mere change of opinion and noted that all relevant details were disclosed during the original assessment. Consequently, the Tribunal allowed the appeal, setting aside the reassessment proceedings initiated by the AO. Case-Laws Income Tax Tue, 09 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372199