https://www.taxtmi.com/caselaws?id=415031 The court ruled in favor of the petitioner, a real estate developer, in a case challenging various notices issued under the Income Tax Act. The court found that the re-assessment proceedings, initiated under Section 148 for alleged income escapement, lacked tangible material and were impermissible as they were solely based on a change of opinion. Citing precedents and emphasizing the disclosure of primary facts during the original assessment, the court quashed all impugned notices and sanctions, granting relief to the petitioner. en-us Wed, 17 Nov 2021 00:00:00 +0530 Tue, 23 Nov 2021 17:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415031 The court ruled in favor of the petitioner, a real estate developer, in a case challenging various notices issued under the Income Tax Act. The court found that the re-assessment proceedings, initiated under Section 148 for alleged income escapement, lacked tangible material and were impermissible as they were solely based on a change of opinion. Citing precedents and emphasizing the disclosure of primary facts during the original assessment, the court quashed all impugned notices and sanctions, granting relief to the petitioner. Case-Laws Income Tax Wed, 17 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415031