https://www.taxtmi.com/caselaws?id=387176 The Tribunal allowed the appeal, finding that the Assessing Officer did not establish fresh material to justify the reopening of assessment under sec. 147. It held that reassessment beyond four years on the same facts considered in the original assessment was impermissible. The Tribunal emphasized that the Assessing Officer cannot change his view once an issue has been examined, rendering the belief formed for reopening after four years invalid. Additionally, the Tribunal deemed the application of sec. 40A(3) in estimating income and the sustained addition for expenditure in cash on purchase as illegal and arbitrary, ultimately allowing the appeal on all grounds. en-us Wed, 11 Sep 2019 00:00:00 +0530 Fri, 18 Oct 2019 07:48:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387176 The Tribunal allowed the appeal, finding that the Assessing Officer did not establish fresh material to justify the reopening of assessment under sec. 147. It held that reassessment beyond four years on the same facts considered in the original assessment was impermissible. The Tribunal emphasized that the Assessing Officer cannot change his view once an issue has been examined, rendering the belief formed for reopening after four years invalid. Additionally, the Tribunal deemed the application of sec. 40A(3) in estimating income and the sustained addition for expenditure in cash on purchase as illegal and arbitrary, ultimately allowing the appeal on all grounds. Case-Laws Income Tax Wed, 11 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387176