https://www.taxtmi.com/caselaws?id=408929 Reassessment under the Income-tax Act is impermissible where the reopening rests only on a change of opinion after an assessment completed under Section 143(3). The power under Section 147 must be supported by fresh tangible material having a live link with the belief that income has escaped assessment; absent such material, reopening is invalid. On the facts, the reassessment was initiated without new material and was therefore set aside in favour of the assessee. en-us Tue, 22 Jun 2021 00:00:00 +0530 Wed, 15 Sep 2021 15:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408929 Reassessment under the Income-tax Act is impermissible where the reopening rests only on a change of opinion after an assessment completed under Section 143(3). The power under Section 147 must be supported by fresh tangible material having a live link with the belief that income has escaped assessment; absent such material, reopening is invalid. On the facts, the reassessment was initiated without new material and was therefore set aside in favour of the assessee. Case-Laws Income Tax Tue, 22 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408929