https://www.taxtmi.com/caselaws?id=408603 The Court dismissed the Revenue's appeal and found the reopening of the assessment to be impermissible due to being based on a change of opinion and audit objection. The CIT(A) concluded that the reasons for reopening lacked a live-link to income escapement belief. The assessee's clarification regarding a typographical error in tax exemption and satisfactory explanation on stock treatment were accepted. The order was pronounced on 10th June 2021, with the Revenue's appeal dismissed and the assessee's cross-objection rendered infructuous. en-us Thu, 10 Jun 2021 00:00:00 +0530 Wed, 16 Jun 2021 10:36:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408603 The Court dismissed the Revenue's appeal and found the reopening of the assessment to be impermissible due to being based on a change of opinion and audit objection. The CIT(A) concluded that the reasons for reopening lacked a live-link to income escapement belief. The assessee's clarification regarding a typographical error in tax exemption and satisfactory explanation on stock treatment were accepted. The order was pronounced on 10th June 2021, with the Revenue's appeal dismissed and the assessee's cross-objection rendered infructuous. Case-Laws Income Tax Thu, 10 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408603