https://www.taxtmi.com/caselaws?id=399634 The Tribunal dismissed the Revenue's appeal, affirming the Commissioner of Income Tax (Appeals)' decision on the invalidity of reassessment proceedings under section 147 of the Income Tax Act and disallowance under section 40(a)(ia) of the Act. The Tribunal held that the reassessment was impermissible as it was solely based on a change of opinion by the Assessing Officer, citing judicial precedents. Consequently, the disallowance under section 40(a)(ia) was not upheld, and the reassessment proceedings were dropped. en-us Fri, 09 Oct 2020 00:00:00 +0530 Thu, 15 Oct 2020 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399634 The Tribunal dismissed the Revenue's appeal, affirming the Commissioner of Income Tax (Appeals)' decision on the invalidity of reassessment proceedings under section 147 of the Income Tax Act and disallowance under section 40(a)(ia) of the Act. The Tribunal held that the reassessment was impermissible as it was solely based on a change of opinion by the Assessing Officer, citing judicial precedents. Consequently, the disallowance under section 40(a)(ia) was not upheld, and the reassessment proceedings were dropped. Case-Laws Income Tax Fri, 09 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399634