https://www.taxtmi.com/caselaws?id=398075 The Tribunal allowed the appeal, quashing the reassessment order as it was deemed based on a mere change of opinion without fresh tangible material, violating the law. The reassessment was found to be invalid under Section 147/148 of the Income Tax Act, with no need to address the disallowance of Rs. 2,203,234 related to "Provision for Demo Inventory." The decision was made on 03.09.2020. en-us Thu, 03 Sep 2020 00:00:00 +0530 Sat, 05 Sep 2020 22:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398075 The Tribunal allowed the appeal, quashing the reassessment order as it was deemed based on a mere change of opinion without fresh tangible material, violating the law. The reassessment was found to be invalid under Section 147/148 of the Income Tax Act, with no need to address the disallowance of Rs. 2,203,234 related to "Provision for Demo Inventory." The decision was made on 03.09.2020. Case-Laws Income Tax Thu, 03 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398075