https://www.taxtmi.com/caselaws?id=293141 The Tribunal quashed the reopening of the assessment under Section 147/148 of the Income Tax Act, deeming it bad in law due to the absence of new tangible material, as it was based on a mere change of opinion. As a result, the Tribunal did not adjudicate on the merits of the addition of share premium as unexplained income under Section 68, as the reopening was already dismissed on jurisdictional grounds. The final order dismissed the Revenue's appeal and the Cross Objection of the assessee, with the order pronounced on 19-07-2019. en-us Fri, 19 Jul 2019 00:00:00 +0530 Tue, 26 Jan 2021 16:08:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293141 The Tribunal quashed the reopening of the assessment under Section 147/148 of the Income Tax Act, deeming it bad in law due to the absence of new tangible material, as it was based on a mere change of opinion. As a result, the Tribunal did not adjudicate on the merits of the addition of share premium as unexplained income under Section 68, as the reopening was already dismissed on jurisdictional grounds. The final order dismissed the Revenue's appeal and the Cross Objection of the assessee, with the order pronounced on 19-07-2019. Case-Laws Income Tax Fri, 19 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293141