https://www.taxtmi.com/caselaws?id=435666 The High Court dismissed the tax case appeal, upholding the Tribunal's decision. The Court found that the delay in reopening the assessment beyond four years was not legally permissible, emphasizing that a mere change of opinion is not sufficient grounds for reassessment. The Court differentiated the case from a Supreme Court judgment, stating that while reopening based on audit errors is allowed, it must be done within the prescribed timeframe. Consequently, the appeal was dismissed against the revenue, with no costs awarded. en-us Thu, 09 Feb 2023 00:00:00 +0530 Fri, 24 Mar 2023 13:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435666 The High Court dismissed the tax case appeal, upholding the Tribunal's decision. The Court found that the delay in reopening the assessment beyond four years was not legally permissible, emphasizing that a mere change of opinion is not sufficient grounds for reassessment. The Court differentiated the case from a Supreme Court judgment, stating that while reopening based on audit errors is allowed, it must be done within the prescribed timeframe. Consequently, the appeal was dismissed against the revenue, with no costs awarded. Case-Laws Income Tax Thu, 09 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435666