https://www.taxtmi.com/caselaws?id=429503 The court held that the reopening of the assessment was based on a mere change of opinion, which was impermissible. The Assessing Officer had already considered the relevant facts during the regular assessment, and the reassessment notice did not present any new material to justify reopening. Citing legal precedents, the court emphasized the need for tangible material to support a conclusion of income escapement. Consequently, the court allowed the petition, quashing the notice issued under Section 148 and the order rejecting objections. en-us Fri, 21 Oct 2022 00:00:00 +0530 Sat, 29 Oct 2022 09:20:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429503 The court held that the reopening of the assessment was based on a mere change of opinion, which was impermissible. The Assessing Officer had already considered the relevant facts during the regular assessment, and the reassessment notice did not present any new material to justify reopening. Citing legal precedents, the court emphasized the need for tangible material to support a conclusion of income escapement. Consequently, the court allowed the petition, quashing the notice issued under Section 148 and the order rejecting objections. Case-Laws Income Tax Fri, 21 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429503