https://www.taxtmi.com/caselaws?id=385613 The Appellate Tribunal upheld the decision of the Commissioner (Appeals) in a case involving the validity of reopening assessment under section 147 of the Income Tax Act, 1961. The Tribunal dismissed the revenue's appeal, ruling that the reassessment was invalid as it constituted a mere change of opinion without new material to suggest income escapement. The Tribunal emphasized the impermissibility of reassessment based solely on a change of opinion and highlighted the absence of failure on the part of the assessee to disclose material facts necessary for assessment. en-us Fri, 06 Sep 2019 00:00:00 +0530 Tue, 10 Sep 2019 06:02:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385613 The Appellate Tribunal upheld the decision of the Commissioner (Appeals) in a case involving the validity of reopening assessment under section 147 of the Income Tax Act, 1961. The Tribunal dismissed the revenue's appeal, ruling that the reassessment was invalid as it constituted a mere change of opinion without new material to suggest income escapement. The Tribunal emphasized the impermissibility of reassessment based solely on a change of opinion and highlighted the absence of failure on the part of the assessee to disclose material facts necessary for assessment. Case-Laws Income Tax Fri, 06 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385613