https://www.taxtmi.com/caselaws?id=405940 The Tribunal allowed the appeal, quashing the notice under Section 148 and the reassessment order under Section 147. Reopening assessments beyond four years must be supported by new material evidence and not just a change of opinion. The reassessment order was deemed invalid due to lack of jurisdiction and failure to disclose material facts. The disallowed deduction was not addressed due to the quashing of the order. The issue of interest liability was not specifically discussed as the reassessment order was quashed. en-us Tue, 30 Mar 2021 00:00:00 +0530 Fri, 02 Apr 2021 09:14:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405940 The Tribunal allowed the appeal, quashing the notice under Section 148 and the reassessment order under Section 147. Reopening assessments beyond four years must be supported by new material evidence and not just a change of opinion. The reassessment order was deemed invalid due to lack of jurisdiction and failure to disclose material facts. The disallowed deduction was not addressed due to the quashing of the order. The issue of interest liability was not specifically discussed as the reassessment order was quashed. Case-Laws Income Tax Tue, 30 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405940