https://www.taxtmi.com/caselaws?id=433214 The appeal filed by the Revenue challenging the reassessment order under section 147 r.w.s. 143(3) of the Income Tax Act, 1961 for the Assessment Year 2009-10 was dismissed by the ITAT Indore. The reassessment, initiated due to stock discrepancies, was deemed invalid as it constituted a change of opinion, supported by legal precedents prohibiting reassessment on such grounds. The ITAT upheld the decision of the Ld. CIT(A), emphasizing the lack of sufficient grounds provided by the Revenue to warrant interference. en-us Tue, 03 Jan 2023 00:00:00 +0530 Tue, 24 Jan 2023 10:12:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433214 The appeal filed by the Revenue challenging the reassessment order under section 147 r.w.s. 143(3) of the Income Tax Act, 1961 for the Assessment Year 2009-10 was dismissed by the ITAT Indore. The reassessment, initiated due to stock discrepancies, was deemed invalid as it constituted a change of opinion, supported by legal precedents prohibiting reassessment on such grounds. The ITAT upheld the decision of the Ld. CIT(A), emphasizing the lack of sufficient grounds provided by the Revenue to warrant interference. Case-Laws Income Tax Tue, 03 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433214