https://www.taxtmi.com/caselaws?id=398971 The Tribunal allowed the appeal of the assessee, quashing the reassessment order passed by the AO on legal grounds. The Tribunal found the notice issuance under sections 147/148 to be invalid due to lack of new material and emphasized that reassessment based on a mere change of opinion without tangible material is impermissible. The additions made by the AO and partially confirmed by CIT(A) were not further adjudicated due to the quashing of the reassessment. The procedural delay in pronouncement was justified by the Tribunal due to the COVID-19 pandemic, with the appeal pronounced in accordance with ITAT Rules. en-us Tue, 30 Jun 2020 00:00:00 +0530 Tue, 29 Sep 2020 06:55:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398971 The Tribunal allowed the appeal of the assessee, quashing the reassessment order passed by the AO on legal grounds. The Tribunal found the notice issuance under sections 147/148 to be invalid due to lack of new material and emphasized that reassessment based on a mere change of opinion without tangible material is impermissible. The additions made by the AO and partially confirmed by CIT(A) were not further adjudicated due to the quashing of the reassessment. The procedural delay in pronouncement was justified by the Tribunal due to the COVID-19 pandemic, with the appeal pronounced in accordance with ITAT Rules. Case-Laws Income Tax Tue, 30 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398971