https://www.taxtmi.com/caselaws?id=300497 The High Court held that the initiation of re-assessment proceedings under section 147(b) of the Income Tax Act, 1961 was not permissible in a case where excessive relief was allowed to the assessee under section 80HH. The Court emphasized the need for specific and reliable information to reopen an assessment, stating that a mere change of opinion or drawing a different inference from the same facts was insufficient. The Court ruled in favor of the assessee, concluding that the re-assessment proceedings were not justified in this instance. en-us Tue, 21 Nov 2006 00:00:00 +0530 Mon, 07 Feb 2022 10:34:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300497 The High Court held that the initiation of re-assessment proceedings under section 147(b) of the Income Tax Act, 1961 was not permissible in a case where excessive relief was allowed to the assessee under section 80HH. The Court emphasized the need for specific and reliable information to reopen an assessment, stating that a mere change of opinion or drawing a different inference from the same facts was insufficient. The Court ruled in favor of the assessee, concluding that the re-assessment proceedings were not justified in this instance. Case-Laws Income Tax Tue, 21 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300497