https://www.taxtmi.com/caselaws?id=374316 The High Court held that the notice of reopening of assessment for the assessment year 2011-12 was invalid as it was issued beyond the prescribed time limit and lacked allegations of failure to disclose material facts. The Court noted that the Assessing Officer had already examined the issue of share premium during the original assessment and made a limited disallowance. Without new material or significant changes, the Court deemed the attempt to reopen the assessment as a mere change of opinion, ruling in favor of the petitioner and setting aside the notice. en-us Thu, 24 Jan 2019 00:00:00 +0530 Wed, 30 Jan 2019 08:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374316 The High Court held that the notice of reopening of assessment for the assessment year 2011-12 was invalid as it was issued beyond the prescribed time limit and lacked allegations of failure to disclose material facts. The Court noted that the Assessing Officer had already examined the issue of share premium during the original assessment and made a limited disallowance. Without new material or significant changes, the Court deemed the attempt to reopen the assessment as a mere change of opinion, ruling in favor of the petitioner and setting aside the notice. Case-Laws Income Tax Thu, 24 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374316