https://www.taxtmi.com/caselaws?id=406914 The court held that the reassessment proceedings were invalid as they were based on a mere change of opinion by the Assessing Officer (AO) and did not meet the jurisdictional requirements. The court quashed the notice issued under Section 148 of the Income Tax Act, 1961, and the subsequent assessment order. The court emphasized the importance of tangible material for the AO to believe in income escapement, as per established legal principles. en-us Wed, 24 Mar 2021 00:00:00 +0530 Sat, 20 Aug 2022 17:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406914 The court held that the reassessment proceedings were invalid as they were based on a mere change of opinion by the Assessing Officer (AO) and did not meet the jurisdictional requirements. The court quashed the notice issued under Section 148 of the Income Tax Act, 1961, and the subsequent assessment order. The court emphasized the importance of tangible material for the AO to believe in income escapement, as per established legal principles. Case-Laws Income Tax Wed, 24 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406914