Re-assessment u/s 147: No failure to disclose by assessee, AO can't re-evaluate based on opinion change.

Re-assessment u/s 147: No failure to disclose by assessee, AO can't re-evaluate based on opinion change. https://www.taxtmi.com/highlights?id=46304 Re-assessment u/s 147 - no failure on the part of the assessee to disclose all the relevant facts truly and fully for assessment - AO cannot have a mere re-appreciation of the same facts or a review of existing material on a mere change of opinion and take a different view of the matter - limitation of 4 years is a protection of whimsical and arbitrary re-assessment proceedings en-us Mon, 06 May 2019 05:49:51 +0530 Mon, 06 May 2019 05:49:51 +0530 TaxTMI RSS Generator Re-assessment u/s 147: No failure to disclose by assessee, AO can't re-evaluate based on opinion change. https://www.taxtmi.com/highlights?id=46304 Re-assessment u/s 147 - no failure on the part of the assessee to disclose all the relevant facts truly and fully for assessment - AO cannot have a mere re-appreciation of the same facts or a review of existing material on a mere change of opinion and take a different view of the matter - limitation of 4 years is a protection of whimsical and arbitrary re-assessment proceedings Highlights Income Tax Mon, 06 May 2019 05:49:51 +0530 https://www.taxtmi.com/highlights?id=46304