https://www.taxtmi.com/caselaws?id=306383 The High Court dismissed all tax case appeals, upholding decisions on the reopening of assessments under Section 147 of the Income Tax Act and the claim related to broken period interest. The court emphasized the requirement for tangible material and a valid basis for reassessment, highlighting that mere changes of opinion without fresh material do not justify reopening assessments. The court ruled that the reassessment lacked jurisdiction under Section 147, as it was based on a mere change of opinion without new evidence. en-us Wed, 29 Jul 2015 00:00:00 +0530 Wed, 25 Jan 2023 08:32:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306383 The High Court dismissed all tax case appeals, upholding decisions on the reopening of assessments under Section 147 of the Income Tax Act and the claim related to broken period interest. The court emphasized the requirement for tangible material and a valid basis for reassessment, highlighting that mere changes of opinion without fresh material do not justify reopening assessments. The court ruled that the reassessment lacked jurisdiction under Section 147, as it was based on a mere change of opinion without new evidence. Case-Laws Income Tax Wed, 29 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306383