https://www.taxtmi.com/caselaws?id=434355 The High Court held that the reassessment proceedings were unsustainable as the Assessing Officer did not have any new material or failure to disclose facts by the petitioner during the regular assessment. The Court deemed the reassessment as a change of opinion, which is impermissible. It was found that the jurisdictional conditions under section 147 of the Income Tax Act were not met, leading to the quashing of the order of assessment, notice of demand, and penalty notice. No costs were awarded in this judgment. en-us Mon, 20 Feb 2023 00:00:00 +0530 Wed, 16 Aug 2023 10:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434355 The High Court held that the reassessment proceedings were unsustainable as the Assessing Officer did not have any new material or failure to disclose facts by the petitioner during the regular assessment. The Court deemed the reassessment as a change of opinion, which is impermissible. It was found that the jurisdictional conditions under section 147 of the Income Tax Act were not met, leading to the quashing of the order of assessment, notice of demand, and penalty notice. No costs were awarded in this judgment. Case-Laws Income Tax Mon, 20 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434355