https://www.taxtmi.com/caselaws?id=409019 The court upheld the validity of the reassessment proceedings initiated under Section 147 of the Income Tax Act, 1961, finding that they were not based on a mere change of opinion but on legitimate reasons to believe that income had escaped assessment. The court dismissed the challenges to the jurisdiction of the Transfer Pricing Officer under Section 92CA(3) and affirmed that the actions of both the Transfer Pricing Officer and Assessing Officer were in accordance with the law, emphasizing the importance of accurate tax assessment. en-us Mon, 21 Jun 2021 00:00:00 +0530 Wed, 15 Sep 2021 17:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409019 The court upheld the validity of the reassessment proceedings initiated under Section 147 of the Income Tax Act, 1961, finding that they were not based on a mere change of opinion but on legitimate reasons to believe that income had escaped assessment. The court dismissed the challenges to the jurisdiction of the Transfer Pricing Officer under Section 92CA(3) and affirmed that the actions of both the Transfer Pricing Officer and Assessing Officer were in accordance with the law, emphasizing the importance of accurate tax assessment. Case-Laws Income Tax Mon, 21 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409019