https://www.taxtmi.com/caselaws?id=417227 The court quashed the notice for reopening assessment for A.Y. 2013-14, emphasizing that reassessment based on a change of opinion is unwarranted when primary facts are fully disclosed. The Assessing Officer's contentions regarding the valuation of shares and claimed expenses were deemed as a mere change of opinion, as these matters were adequately explained during assessment proceedings. The court highlighted the lack of disclosure by the Assessing Officer and ruled in favor of the petitioner, disposing of the petition with no order as to costs. en-us Tue, 11 Jan 2022 00:00:00 +0530 Tue, 18 Jan 2022 08:46:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417227 The court quashed the notice for reopening assessment for A.Y. 2013-14, emphasizing that reassessment based on a change of opinion is unwarranted when primary facts are fully disclosed. The Assessing Officer's contentions regarding the valuation of shares and claimed expenses were deemed as a mere change of opinion, as these matters were adequately explained during assessment proceedings. The court highlighted the lack of disclosure by the Assessing Officer and ruled in favor of the petitioner, disposing of the petition with no order as to costs. Case-Laws Income Tax Tue, 11 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417227