https://www.taxtmi.com/caselaws?id=387637 The Tribunal dismissed the revenue's appeal, upholding the Commissioner of Income-Tax (Appeals)' decision that the reassessment was invalid. The reassessment order was set aside due to being based on a non-existent entity, a mere change of opinion, and lacking new tangible material. The Tribunal emphasized that reopening assessments on a change of opinion is impermissible and that new tangible material is required for a valid reassessment. The procedural failure to assess the successor entity further invalidated the reassessment order. The primary issue of the invalid reassessment order led to the dismissal of the revenue's appeal. en-us Wed, 18 Sep 2019 00:00:00 +0530 Sat, 26 Oct 2019 10:46:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387637 The Tribunal dismissed the revenue's appeal, upholding the Commissioner of Income-Tax (Appeals)' decision that the reassessment was invalid. The reassessment order was set aside due to being based on a non-existent entity, a mere change of opinion, and lacking new tangible material. The Tribunal emphasized that reopening assessments on a change of opinion is impermissible and that new tangible material is required for a valid reassessment. The procedural failure to assess the successor entity further invalidated the reassessment order. The primary issue of the invalid reassessment order led to the dismissal of the revenue's appeal. Case-Laws Income Tax Wed, 18 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387637