https://www.taxtmi.com/caselaws?id=417226 The High Court quashed the notice under section 148 of the Income Tax Act, 1961, and the order rejecting objections, as the reassessment for the assessment year 2014-15 was deemed a mere change of opinion without tangible material justifying income escapement. The Court emphasized that reassessment must be grounded on substantive reasons, not subjective opinion, citing relevant case law. The petition was allowed, declaring the notice and order legally unsustainable. en-us Mon, 10 Jan 2022 00:00:00 +0530 Fri, 29 Apr 2022 14:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417226 The High Court quashed the notice under section 148 of the Income Tax Act, 1961, and the order rejecting objections, as the reassessment for the assessment year 2014-15 was deemed a mere change of opinion without tangible material justifying income escapement. The Court emphasized that reassessment must be grounded on substantive reasons, not subjective opinion, citing relevant case law. The petition was allowed, declaring the notice and order legally unsustainable. Case-Laws Income Tax Mon, 10 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417226