https://www.taxtmi.com/caselaws?id=424216 The Tribunal held that the reassessment proceedings under section 148 were impermissible as they were based on a mere change of opinion without any new material. The assessment order was declared without jurisdiction, and the disallowance of Rs. 3,03,42,451 in respect of Long Term Incentive Plan (LTIP) expenditure was not addressed on merits. The appeal was allowed in favor of the assessee on jurisdictional grounds. en-us Fri, 29 Apr 2022 00:00:00 +0530 Fri, 24 Jun 2022 08:22:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424216 The Tribunal held that the reassessment proceedings under section 148 were impermissible as they were based on a mere change of opinion without any new material. The assessment order was declared without jurisdiction, and the disallowance of Rs. 3,03,42,451 in respect of Long Term Incentive Plan (LTIP) expenditure was not addressed on merits. The appeal was allowed in favor of the assessee on jurisdictional grounds. Case-Laws Income Tax Fri, 29 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424216