https://www.taxtmi.com/caselaws?id=414715 The tribunal quashed the reassessment under Section 147 of the Income Tax Act, finding that the Assessing Officer (AO) did not have valid reasons to assume jurisdiction. The reassessment was based on incorrect information, violating principles of natural justice and constituting a mere change of opinion. The tribunal allowed the appeal in favor of the assessee, highlighting the failure of the AO to properly consider the facts and provide a valid basis for the reassessment. en-us Wed, 06 Oct 2021 00:00:00 +0530 Mon, 15 Nov 2021 09:10:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414715 The tribunal quashed the reassessment under Section 147 of the Income Tax Act, finding that the Assessing Officer (AO) did not have valid reasons to assume jurisdiction. The reassessment was based on incorrect information, violating principles of natural justice and constituting a mere change of opinion. The tribunal allowed the appeal in favor of the assessee, highlighting the failure of the AO to properly consider the facts and provide a valid basis for the reassessment. Case-Laws Income Tax Wed, 06 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414715