https://www.taxtmi.com/caselaws?id=437418 The Tribunal dismissed the revenue's appeal, concluding that the reassessment constituted a change of opinion, as the conditions of Section 47(xiii) of the Income Tax Act were met. The reasons for reopening lacked independent reasoning and were based on prior assessments. The transaction's taxability was sufficiently examined during the original assessment. The HC upheld the Tribunal's decision, ruling against the revenue on all substantial questions of law. en-us Tue, 02 May 2023 00:00:00 +0530 Thu, 14 Dec 2023 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437418 The Tribunal dismissed the revenue's appeal, concluding that the reassessment constituted a change of opinion, as the conditions of Section 47(xiii) of the Income Tax Act were met. The reasons for reopening lacked independent reasoning and were based on prior assessments. The transaction's taxability was sufficiently examined during the original assessment. The HC upheld the Tribunal's decision, ruling against the revenue on all substantial questions of law. Case-Laws Income Tax Tue, 02 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437418