https://www.taxtmi.com/caselaws?id=421569 The court found in favor of the petitioner, ruling that the Assessing Officer's decision to restrict the deduction claimed under Section 80-IC of the Income Tax Act to 30% was an impermissible change of opinion. Additionally, the court held that the notice issued under Section 148 for reopening the assessment was invalid as it was based on insufficient reasons and a judgment that had been overruled. The court determined that there was no failure to disclose material facts by the petitioner, ultimately quashing the notice and order for reopening the assessment. en-us Fri, 22 Apr 2022 00:00:00 +0530 Wed, 27 Apr 2022 08:31:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421569 The court found in favor of the petitioner, ruling that the Assessing Officer's decision to restrict the deduction claimed under Section 80-IC of the Income Tax Act to 30% was an impermissible change of opinion. Additionally, the court held that the notice issued under Section 148 for reopening the assessment was invalid as it was based on insufficient reasons and a judgment that had been overruled. The court determined that there was no failure to disclose material facts by the petitioner, ultimately quashing the notice and order for reopening the assessment. Case-Laws Income Tax Fri, 22 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421569