https://www.taxtmi.com/caselaws?id=381538 The Gujarat High Court upheld the decision of the Income Tax Appellate Tribunal, dismissing the appeal by the Income Tax Department regarding the reassessment proceedings for the Assessment Year 2007-08. The Court agreed with the Tribunal that the reassessment was impermissible as it was solely based on a change of opinion by the Assessing Officer without any new material warranting such action. The Court emphasized the principle that reassessment cannot be initiated merely due to a change of opinion, in line with established legal precedents. en-us Mon, 10 Jun 2019 00:00:00 +0530 Tue, 23 Jul 2019 16:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381538 The Gujarat High Court upheld the decision of the Income Tax Appellate Tribunal, dismissing the appeal by the Income Tax Department regarding the reassessment proceedings for the Assessment Year 2007-08. The Court agreed with the Tribunal that the reassessment was impermissible as it was solely based on a change of opinion by the Assessing Officer without any new material warranting such action. The Court emphasized the principle that reassessment cannot be initiated merely due to a change of opinion, in line with established legal precedents. Case-Laws Income Tax Mon, 10 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381538