https://www.taxtmi.com/caselaws?id=419855 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to quash the assessment reopening under section 147 of the Income Tax Act. The Tribunal found the reopening was based on a mere change of opinion without fresh tangible material. Additionally, adjustments in the security premium account were deemed properly treated under section 115JB, with no failure by the assessee to disclose essential facts. The Tribunal concluded that the reassessment was unwarranted, affirming the CIT(A)'s order. en-us Wed, 16 Mar 2022 00:00:00 +0530 Tue, 22 Mar 2022 09:00:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419855 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to quash the assessment reopening under section 147 of the Income Tax Act. The Tribunal found the reopening was based on a mere change of opinion without fresh tangible material. Additionally, adjustments in the security premium account were deemed properly treated under section 115JB, with no failure by the assessee to disclose essential facts. The Tribunal concluded that the reassessment was unwarranted, affirming the CIT(A)'s order. Case-Laws Income Tax Wed, 16 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419855