https://www.taxtmi.com/caselaws?id=297337 The court quashed the reopening proceedings under Section 148 of the Income Tax Act, 1961, as it was deemed a clear case of change of opinion without tangible material to support the reassessment. The court found that the assessee had fully and truly disclosed all necessary facts during the original assessment, rendering the reopening invalid. The court emphasized the requirement for reassessment to be based on tangible material rather than a mere change of opinion, citing relevant case law. en-us Fri, 30 Jan 2015 00:00:00 +0530 Sat, 28 Aug 2021 09:20:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297337 The court quashed the reopening proceedings under Section 148 of the Income Tax Act, 1961, as it was deemed a clear case of change of opinion without tangible material to support the reassessment. The court found that the assessee had fully and truly disclosed all necessary facts during the original assessment, rendering the reopening invalid. The court emphasized the requirement for reassessment to be based on tangible material rather than a mere change of opinion, citing relevant case law. Case-Laws Income Tax Fri, 30 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297337