https://www.taxtmi.com/caselaws?id=400983 The tribunal annulled the reassessment proceedings for the assessment year 2009-10, citing lack of tangible material evidence and a mere change of opinion as the basis for reopening. Additionally, the tribunal directed the AO to recognize loans advanced to Self Help Groups as application of income for the assessment year 2014-15, in accordance with the CBDT circular. Both appeals of the assessee were allowed. en-us Fri, 16 Oct 2020 00:00:00 +0530 Tue, 24 Nov 2020 12:14:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400983 The tribunal annulled the reassessment proceedings for the assessment year 2009-10, citing lack of tangible material evidence and a mere change of opinion as the basis for reopening. Additionally, the tribunal directed the AO to recognize loans advanced to Self Help Groups as application of income for the assessment year 2014-15, in accordance with the CBDT circular. Both appeals of the assessee were allowed. Case-Laws Income Tax Fri, 16 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400983