https://www.taxtmi.com/caselaws?id=395449 The Tribunal held that the reassessment proceedings were initiated without fresh material, constituting a change of opinion. The AO lacked legal basis to assume jurisdiction under Section 147 of the Income Tax Act. Consequently, the reassessment proceedings were quashed, and the appeal by the assessee was allowed. The other grounds regarding the additions were dismissed as infructuous. en-us Wed, 15 Apr 2020 00:00:00 +0530 Fri, 22 May 2020 13:04:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395449 The Tribunal held that the reassessment proceedings were initiated without fresh material, constituting a change of opinion. The AO lacked legal basis to assume jurisdiction under Section 147 of the Income Tax Act. Consequently, the reassessment proceedings were quashed, and the appeal by the assessee was allowed. The other grounds regarding the additions were dismissed as infructuous. Case-Laws Income Tax Wed, 15 Apr 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395449