https://www.taxtmi.com/caselaws?id=26635 The High Court ruled in favor of the appellant in a case challenging notices issued under section 148 of the Income-tax Act for assessment years 1978-79 to 1981-82. The court found that the Income-tax Officer's actions were based on a change of opinion rather than new information, rendering the notices without jurisdiction. Consequently, the court quashed the notices, assessment orders, and demand notices. Despite substantial losses carried forward from earlier years, the reassessments did not result in a loss of revenue. The appeal succeeded, and costs were not awarded. en-us Thu, 16 May 1985 00:00:00 +0530 Sat, 06 Feb 2010 14:22:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26635 The High Court ruled in favor of the appellant in a case challenging notices issued under section 148 of the Income-tax Act for assessment years 1978-79 to 1981-82. The court found that the Income-tax Officer's actions were based on a change of opinion rather than new information, rendering the notices without jurisdiction. Consequently, the court quashed the notices, assessment orders, and demand notices. Despite substantial losses carried forward from earlier years, the reassessments did not result in a loss of revenue. The appeal succeeded, and costs were not awarded. Case-Laws Income Tax Thu, 16 May 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26635