https://www.taxtmi.com/caselaws?id=417077 The court ruled in favor of the petitioner, quashing the notice issued under section 148 of the Income Tax Act. It held that once an assessment is made based on disclosed facts, it cannot be reopened for a different view using the same material. The court emphasized that reopening assessments should be based on income escapement, not a mere change of opinion on deductions. As all material facts were disclosed and considered during the original assessment, the court allowed the petition and disposed of the case without costs. en-us Thu, 06 Jan 2022 00:00:00 +0530 Fri, 14 Jan 2022 08:39:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417077 The court ruled in favor of the petitioner, quashing the notice issued under section 148 of the Income Tax Act. It held that once an assessment is made based on disclosed facts, it cannot be reopened for a different view using the same material. The court emphasized that reopening assessments should be based on income escapement, not a mere change of opinion on deductions. As all material facts were disclosed and considered during the original assessment, the court allowed the petition and disposed of the case without costs. Case-Laws Income Tax Thu, 06 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417077