https://www.taxtmi.com/caselaws?id=433912 Where share premium valuation had already been specifically examined in scrutiny assessment and the assessee had disclosed the relevant valuation material fully and truly, reopening could not rest on a mere reappreciation of the same record. Reassessment requires fresh tangible material and cannot be used to review an issue already considered in the original assessment. On those facts, the reopening notice and the order rejecting objections were invalid, and the reassessment proceedings were quashed in favour of the assessee. en-us Fri, 10 Feb 2023 00:00:00 +0530 Mon, 13 Feb 2023 09:41:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433912 Where share premium valuation had already been specifically examined in scrutiny assessment and the assessee had disclosed the relevant valuation material fully and truly, reopening could not rest on a mere reappreciation of the same record. Reassessment requires fresh tangible material and cannot be used to review an issue already considered in the original assessment. On those facts, the reopening notice and the order rejecting objections were invalid, and the reassessment proceedings were quashed in favour of the assessee. Case-Laws Income Tax Fri, 10 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433912