https://www.taxtmi.com/caselaws?id=303696 The Tribunal held that the reassessment proceedings initiated by the Assessing Officer under sections 147/148 were invalid as they were based on a mere change of opinion without new material. Consequently, the assessment under section 143(3) read with section 147 was canceled. The Tribunal did not address the other issues raised by both the assessee and the Revenue due to the invalidity of the reassessment. The appeal of the assessee was allowed, and the appeal of the Revenue was dismissed. en-us Fri, 08 Jan 2016 00:00:00 +0530 Sat, 06 Aug 2022 09:29:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303696 The Tribunal held that the reassessment proceedings initiated by the Assessing Officer under sections 147/148 were invalid as they were based on a mere change of opinion without new material. Consequently, the assessment under section 143(3) read with section 147 was canceled. The Tribunal did not address the other issues raised by both the assessee and the Revenue due to the invalidity of the reassessment. The appeal of the assessee was allowed, and the appeal of the Revenue was dismissed. Case-Laws Income Tax Fri, 08 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303696