https://www.taxtmi.com/caselaws?id=307832 The court held that the notice for reopening the assessment under Section 148 of the Income Tax Act was invalid as it amounted to a change of opinion by the Assessing Officer. The court found that the issues regarding unexplained investments under Section 69 and the valuation of capital gains under Section 50C had already been scrutinized during the original assessment, and no additions were made based on these grounds. Therefore, the court allowed the petition and set aside the notice for reopening the assessment. en-us Tue, 06 Mar 2018 00:00:00 +0530 Thu, 11 May 2023 16:45:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307832 The court held that the notice for reopening the assessment under Section 148 of the Income Tax Act was invalid as it amounted to a change of opinion by the Assessing Officer. The court found that the issues regarding unexplained investments under Section 69 and the valuation of capital gains under Section 50C had already been scrutinized during the original assessment, and no additions were made based on these grounds. Therefore, the court allowed the petition and set aside the notice for reopening the assessment. Case-Laws Income Tax Tue, 06 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307832