https://www.taxtmi.com/caselaws?id=385148 The court held that the notice issued under Section 148 of the Income Tax Act, 1961, seeking to reopen the assessment for a specific year was quashed as it was based on a mere change of opinion, which is impermissible. The court emphasized that reassessment should be grounded on tangible material indicating income escapement and not on a mere change of opinion. The petition challenging the notice was allowed, and the impugned notice was set aside. en-us Wed, 21 Aug 2019 00:00:00 +0530 Fri, 09 Oct 2020 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385148 The court held that the notice issued under Section 148 of the Income Tax Act, 1961, seeking to reopen the assessment for a specific year was quashed as it was based on a mere change of opinion, which is impermissible. The court emphasized that reassessment should be grounded on tangible material indicating income escapement and not on a mere change of opinion. The petition challenging the notice was allowed, and the impugned notice was set aside. Case-Laws Income Tax Wed, 21 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385148