https://www.taxtmi.com/caselaws?id=405626 The Madras High Court dismissed the Revenue's appeal challenging the ITAT's order on the validity of reopening assessment under Section 147 of the Income Tax Act for the assessment year 2008-09. The Court held that the reassessment constituted a change of opinion by the Assessing Officer, emphasizing the absence of failure in disclosure by the assessee during the initial assessment. The High Court found no grounds to interfere with the Tribunal's decision, ultimately ruling against the Revenue and upholding the validity of the reassessment. en-us Tue, 23 Feb 2021 00:00:00 +0530 Wed, 24 Mar 2021 09:09:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405626 The Madras High Court dismissed the Revenue's appeal challenging the ITAT's order on the validity of reopening assessment under Section 147 of the Income Tax Act for the assessment year 2008-09. The Court held that the reassessment constituted a change of opinion by the Assessing Officer, emphasizing the absence of failure in disclosure by the assessee during the initial assessment. The High Court found no grounds to interfere with the Tribunal's decision, ultimately ruling against the Revenue and upholding the validity of the reassessment. Case-Laws Income Tax Tue, 23 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405626