https://www.taxtmi.com/caselaws?id=391678 The High Court held that the reopening of the assessment under Section 147 of the Income Tax Act was invalid as it was based on a change of opinion without new material facts. The court found that the assessee had made a full and true disclosure of all necessary material facts during the original assessment. The court emphasized the importance of tangible material for reassessment and overturned the appellate tribunal's decision, ruling in favor of the assessee. en-us Mon, 13 Jan 2020 00:00:00 +0530 Wed, 19 Aug 2020 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391678 The High Court held that the reopening of the assessment under Section 147 of the Income Tax Act was invalid as it was based on a change of opinion without new material facts. The court found that the assessee had made a full and true disclosure of all necessary material facts during the original assessment. The court emphasized the importance of tangible material for reassessment and overturned the appellate tribunal's decision, ruling in favor of the assessee. Case-Laws Income Tax Mon, 13 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391678