https://www.taxtmi.com/caselaws?id=437473 The court quashed the notice issued under section 148 of the Income Tax Act for the Assessment Year 2014-15, ruling the reassessment proceedings invalid due to lack of new material. The court emphasized the necessity of fresh tangible evidence for reassessment and held that a mere change of opinion is insufficient to reopen assessments. The decision aligned with legal precedents, prohibiting further action based on the notice and emphasizing the importance of substantial grounds for reassessment. en-us Thu, 04 May 2023 00:00:00 +0530 Mon, 26 Jun 2023 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437473 The court quashed the notice issued under section 148 of the Income Tax Act for the Assessment Year 2014-15, ruling the reassessment proceedings invalid due to lack of new material. The court emphasized the necessity of fresh tangible evidence for reassessment and held that a mere change of opinion is insufficient to reopen assessments. The decision aligned with legal precedents, prohibiting further action based on the notice and emphasizing the importance of substantial grounds for reassessment. Case-Laws Income Tax Thu, 04 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437473