https://www.taxtmi.com/caselaws?id=307741 The court considered the challenge to the reopening of assessment for the assessment year 2012-13 under section 147 of the Income Tax Act. The petitioner argued that the Assessing Officer's attempt to reopen the assessment was based on a change of opinion without any failure on the petitioner's part to disclose material facts during the initial assessment. Additionally, discrepancies in the sale price of a specific scrip and the lack of mention of non-disclosure of material facts during the original assessment were highlighted. The court issued a notice and granted temporary relief to the respondent for the assessment process, subject to further court approval before a final order could be passed. en-us Thu, 20 Dec 2018 00:00:00 +0530 Tue, 09 May 2023 17:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307741 The court considered the challenge to the reopening of assessment for the assessment year 2012-13 under section 147 of the Income Tax Act. The petitioner argued that the Assessing Officer's attempt to reopen the assessment was based on a change of opinion without any failure on the petitioner's part to disclose material facts during the initial assessment. Additionally, discrepancies in the sale price of a specific scrip and the lack of mention of non-disclosure of material facts during the original assessment were highlighted. The court issued a notice and granted temporary relief to the respondent for the assessment process, subject to further court approval before a final order could be passed. Case-Laws Income Tax Thu, 20 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307741