https://www.taxtmi.com/caselaws?id=378071 The Court quashed the notice under Section 148, ruling in favor of the petitioner. It held that the petitioner's timely filing of the return under Section 139(4) allowed for carrying forward losses, negating the need for reopening the assessment. The Court emphasized that a mere change of opinion is not sufficient grounds for reopening, especially when the petitioner had complied with the Income Tax Act. The Writ Petition was allowed with no costs, concluding the legal proceedings in favor of the petitioner. en-us Mon, 25 Mar 2019 00:00:00 +0530 Mon, 08 Apr 2019 09:33:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378071 The Court quashed the notice under Section 148, ruling in favor of the petitioner. It held that the petitioner's timely filing of the return under Section 139(4) allowed for carrying forward losses, negating the need for reopening the assessment. The Court emphasized that a mere change of opinion is not sufficient grounds for reopening, especially when the petitioner had complied with the Income Tax Act. The Writ Petition was allowed with no costs, concluding the legal proceedings in favor of the petitioner. Case-Laws Income Tax Mon, 25 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378071