https://www.taxtmi.com/caselaws?id=416231 The court quashed the notice issued under Section 148 of the Income Tax Act for Assessment Year 2012-2013 and the subsequent order rejecting objections. It was held that the notice lacked jurisdiction as all material facts were disclosed during the original assessment, and reassessment based on a mere change of opinion was deemed invalid. The court emphasized the necessity of fresh tangible material for reassessment and the clear indication of failure to disclose material facts in the reasons provided. Consequently, the court ruled in favor of the petitioner, setting aside the notice and order. en-us Mon, 20 Dec 2021 00:00:00 +0530 Thu, 23 Dec 2021 12:14:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416231 The court quashed the notice issued under Section 148 of the Income Tax Act for Assessment Year 2012-2013 and the subsequent order rejecting objections. It was held that the notice lacked jurisdiction as all material facts were disclosed during the original assessment, and reassessment based on a mere change of opinion was deemed invalid. The court emphasized the necessity of fresh tangible material for reassessment and the clear indication of failure to disclose material facts in the reasons provided. Consequently, the court ruled in favor of the petitioner, setting aside the notice and order. Case-Laws Income Tax Mon, 20 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416231