https://www.taxtmi.com/caselaws?id=430710 The Tribunal allowed the appeal, quashing the reassessment by the Assessing Officer under Section 144 read with Section 147 due to lack of valid jurisdiction, as it was based on a mere change of opinion without new tangible material. The Tribunal did not address the sustainability of the disallowed interest expenditure under Section 57, leaving the issue open for future consideration. The reassessment proceedings were deemed invalid, and the appellant's appeal was successful. en-us Wed, 23 Nov 2022 00:00:00 +0530 Fri, 25 Nov 2022 11:23:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430710 The Tribunal allowed the appeal, quashing the reassessment by the Assessing Officer under Section 144 read with Section 147 due to lack of valid jurisdiction, as it was based on a mere change of opinion without new tangible material. The Tribunal did not address the sustainability of the disallowed interest expenditure under Section 57, leaving the issue open for future consideration. The reassessment proceedings were deemed invalid, and the appellant's appeal was successful. Case-Laws Income Tax Wed, 23 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430710