https://www.taxtmi.com/caselaws?id=416968 The court deemed the notice under section 148 of the Income Tax Act for Assessment Year 2012-13 invalid as there was no failure to disclose material facts by the Petitioner. It was held that the Assessing Officer had all necessary information regarding the acquisition of Brands and Goodwill, and the Petitioner complied with disclosure requirements during assessment proceedings. The court emphasized that reassessment based on the same set of facts to change the view taken during the original assessment was legally impermissible. Consequently, the court quashed the notice for reopening the assessment, citing the importance of full disclosure and limitations on reassessment. en-us Tue, 04 Jan 2022 00:00:00 +0530 Thu, 06 Oct 2022 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416968 The court deemed the notice under section 148 of the Income Tax Act for Assessment Year 2012-13 invalid as there was no failure to disclose material facts by the Petitioner. It was held that the Assessing Officer had all necessary information regarding the acquisition of Brands and Goodwill, and the Petitioner complied with disclosure requirements during assessment proceedings. The court emphasized that reassessment based on the same set of facts to change the view taken during the original assessment was legally impermissible. Consequently, the court quashed the notice for reopening the assessment, citing the importance of full disclosure and limitations on reassessment. Case-Laws Income Tax Tue, 04 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416968