https://www.taxtmi.com/article/detailed?id=10795 Reopening an assessment on the same material already considered and after the Assessing Officer has conducted inquiries and finalised the assessment is impermissible; a mere change of opinion is not a valid ground. The Assessing Officer must specify a material fact that was not truly and fully disclosed and cannot rely on speculative or conjectural reasons such as unsupported valuation assertions or failure to state fair market value to justify reopening. en-us Tue, 08 Nov 2022 13:00:18 +0530 Tue, 08 Nov 2022 13:00:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10795 Reopening an assessment on the same material already considered and after the Assessing Officer has conducted inquiries and finalised the assessment is impermissible; a mere change of opinion is not a valid ground. The Assessing Officer must specify a material fact that was not truly and fully disclosed and cannot rely on speculative or conjectural reasons such as unsupported valuation assertions or failure to state fair market value to justify reopening. Articles Income Tax Tue, 08 Nov 2022 13:00:18 +0530 https://www.taxtmi.com/article/detailed?id=10795