https://www.taxtmi.com/caselaws?id=421193 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to quash reassessment proceedings on the grounds of change of opinion. The reassessment, based solely on audit objections without new material, was deemed impermissible under the law. The Tribunal dismissed the Revenue's appeal and the assessee's cross-objection as infructuous, emphasizing that reopening assessments without fresh tangible material constitutes a change of opinion, not allowed by law. en-us Tue, 12 Apr 2022 00:00:00 +0530 Tue, 19 Apr 2022 08:54:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421193 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to quash reassessment proceedings on the grounds of change of opinion. The reassessment, based solely on audit objections without new material, was deemed impermissible under the law. The Tribunal dismissed the Revenue's appeal and the assessee's cross-objection as infructuous, emphasizing that reopening assessments without fresh tangible material constitutes a change of opinion, not allowed by law. Case-Laws Income Tax Tue, 12 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421193