https://www.taxtmi.com/caselaws?id=414278 The court set aside the impugned notice under Section 148 of the Income Tax Act for AY 2012-13, ruling in favor of the Petitioner. The Assessing Officer's attempt to reopen the assessment based on a change of opinion regarding a deduction claimed under Section 36(1)(vii) was deemed invalid. The court emphasized the importance of full disclosure of material facts by the assessee and restricted the Assessing Officer's authority to reopen assessments without substantial grounds beyond a mere change of opinion, ultimately leading to the decision to quash the notice and subsequent orders. en-us Thu, 28 Oct 2021 00:00:00 +0530 Mon, 01 Nov 2021 07:11:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414278 The court set aside the impugned notice under Section 148 of the Income Tax Act for AY 2012-13, ruling in favor of the Petitioner. The Assessing Officer's attempt to reopen the assessment based on a change of opinion regarding a deduction claimed under Section 36(1)(vii) was deemed invalid. The court emphasized the importance of full disclosure of material facts by the assessee and restricted the Assessing Officer's authority to reopen assessments without substantial grounds beyond a mere change of opinion, ultimately leading to the decision to quash the notice and subsequent orders. Case-Laws Income Tax Thu, 28 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414278