https://www.taxtmi.com/caselaws?id=434081 The court quashed the notice dated 30th March, 2021, and the order dated 10th March, 2022, regarding the reopening of the assessment for the year 2013-14. It held that the reopening was invalid due to the absence of new tangible material and the failure to specify undisclosed material facts by the assessee. The court emphasized that the reassessment was based on a mere change of opinion, which is insufficient for reopening under Section 147 of the Income Tax Act, 1961. Consequently, the writ petition was allowed, rendering the reopening of the assessment unsustainable. en-us Wed, 15 Feb 2023 00:00:00 +0530 Mon, 27 Nov 2023 10:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434081 The court quashed the notice dated 30th March, 2021, and the order dated 10th March, 2022, regarding the reopening of the assessment for the year 2013-14. It held that the reopening was invalid due to the absence of new tangible material and the failure to specify undisclosed material facts by the assessee. The court emphasized that the reassessment was based on a mere change of opinion, which is insufficient for reopening under Section 147 of the Income Tax Act, 1961. Consequently, the writ petition was allowed, rendering the reopening of the assessment unsustainable. Case-Laws Income Tax Wed, 15 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434081