https://www.taxtmi.com/caselaws?id=16592 The court quashed the notice issued under section 148 of the Income-tax Act, 1961, as it was deemed arbitrary, illegal, and lacking jurisdiction due to the absence of new information or failure to disclose material facts by the assessee. It clarified that the amended provisions of section 147 could not retroactively apply to the assessment year in question, which was before the amendment. The court emphasized the obligation of the assessee to disclose material facts fully and truly, while also ruling that reopening an assessment based on mere suspicion or change of opinion is impermissible. en-us Tue, 18 Aug 1998 00:00:00 +0530 Tue, 08 Sep 2009 16:38:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16592 The court quashed the notice issued under section 148 of the Income-tax Act, 1961, as it was deemed arbitrary, illegal, and lacking jurisdiction due to the absence of new information or failure to disclose material facts by the assessee. It clarified that the amended provisions of section 147 could not retroactively apply to the assessment year in question, which was before the amendment. The court emphasized the obligation of the assessee to disclose material facts fully and truly, while also ruling that reopening an assessment based on mere suspicion or change of opinion is impermissible. Case-Laws Income Tax Tue, 18 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16592