https://www.taxtmi.com/caselaws?id=408601 The Tribunal allowed the appeal, quashing the assessment order under section 143(3) r.w.s. 147 due to an invalid reopening of assessment under section 147 of the Income-tax Act, 1961. The Tribunal found that the assessing officer's decision to reopen the assessment was based on a mere change of opinion without new tangible material, influenced by an audit objection. As a result, the addition of broken period interest was not adjudicated, with the Tribunal leaving it open for future consideration. en-us Fri, 04 Jun 2021 00:00:00 +0530 Wed, 16 Jun 2021 10:36:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408601 The Tribunal allowed the appeal, quashing the assessment order under section 143(3) r.w.s. 147 due to an invalid reopening of assessment under section 147 of the Income-tax Act, 1961. The Tribunal found that the assessing officer's decision to reopen the assessment was based on a mere change of opinion without new tangible material, influenced by an audit objection. As a result, the addition of broken period interest was not adjudicated, with the Tribunal leaving it open for future consideration. Case-Laws Income Tax Fri, 04 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408601