https://www.taxtmi.com/caselaws?id=21427 The High Court held that the reopening of the assessment under section 147(b) for the years 1973-74 and 1974-75 lacked fresh material and was deemed a change of opinion. Consequently, the Tribunal's decision was overturned in favor of the assessee. The validity of reassessment proceedings was questioned due to excessive deductions, but the court did not address this issue. The assessability of service charges as income from business was rejected, and the disallowance of depreciation and insurance premium in computing income from service charges was upheld. No costs were awarded. en-us Tue, 26 Jun 1990 00:00:00 +0530 Tue, 24 Nov 2009 12:54:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21427 The High Court held that the reopening of the assessment under section 147(b) for the years 1973-74 and 1974-75 lacked fresh material and was deemed a change of opinion. Consequently, the Tribunal's decision was overturned in favor of the assessee. The validity of reassessment proceedings was questioned due to excessive deductions, but the court did not address this issue. The assessability of service charges as income from business was rejected, and the disallowance of depreciation and insurance premium in computing income from service charges was upheld. No costs were awarded. Case-Laws Income Tax Tue, 26 Jun 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21427