https://www.taxtmi.com/caselaws?id=439566 Reassessment under section 147 was challenged where the exemption claim under section 10(37) had already been examined in scrutiny assessment and accepted under section 143(3). The text states that reopening on the same material, without fresh tangible information, and after a later view in co-owner proceedings amounted to a mere change of opinion and was not a valid basis for reassessment. It also records that reasons relying mainly on revision proceedings relating to other co-owners, without independent evaluation of the assessee's material, disclosed borrowed satisfaction. On the facts described, the compulsory acquisition compensation retained exempt character under section 10(37), section 96 of the 2013 land acquisition law, and CBDT Circular No. 36/2016. en-us Fri, 23 Jun 2023 00:00:00 +0530 Mon, 25 Sep 2023 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439566 Reassessment under section 147 was challenged where the exemption claim under section 10(37) had already been examined in scrutiny assessment and accepted under section 143(3). The text states that reopening on the same material, without fresh tangible information, and after a later view in co-owner proceedings amounted to a mere change of opinion and was not a valid basis for reassessment. It also records that reasons relying mainly on revision proceedings relating to other co-owners, without independent evaluation of the assessee's material, disclosed borrowed satisfaction. On the facts described, the compulsory acquisition compensation retained exempt character under section 10(37), section 96 of the 2013 land acquisition law, and CBDT Circular No. 36/2016. Case-Laws Income Tax Fri, 23 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439566