https://www.taxtmi.com/caselaws?id=305975 The High Court quashed the notice issued under Section 148 of the Income Tax Act, 1961 for Assessment Year 2013-2014 and the subsequent order on objections. The Court found that the reasons for reopening the assessment were based on a change of opinion rather than a failure to disclose material facts. As the Assessing Officer had added back only 1% of the total turnover/sales to the total income instead of the suggested 5%, indicating a clear change of opinion without justification, the Court concluded that the notice and order should be set aside. The petition was allowed, and the documents were quashed without costs. en-us Mon, 07 Mar 2022 00:00:00 +0530 Mon, 02 Jan 2023 21:14:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305975 The High Court quashed the notice issued under Section 148 of the Income Tax Act, 1961 for Assessment Year 2013-2014 and the subsequent order on objections. The Court found that the reasons for reopening the assessment were based on a change of opinion rather than a failure to disclose material facts. As the Assessing Officer had added back only 1% of the total turnover/sales to the total income instead of the suggested 5%, indicating a clear change of opinion without justification, the Court concluded that the notice and order should be set aside. The petition was allowed, and the documents were quashed without costs. Case-Laws Income Tax Mon, 07 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305975