https://www.taxtmi.com/caselaws?id=443486 The Tribunal quashed the reassessment proceedings under Section 147 of the Income Tax Act, finding them to be based on vague information and constituting a change of opinion. The appeal by the assessee was allowed, with the reassessment deemed invalid both legally and on merits. The reassessment would have led to double addition of disclosed transactions, and the Tribunal noted the lack of concrete evidence supporting the reassessment. The order was pronounced on 16th May 2023. en-us Tue, 16 May 2023 00:00:00 +0530 Mon, 25 Sep 2023 08:17:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443486 The Tribunal quashed the reassessment proceedings under Section 147 of the Income Tax Act, finding them to be based on vague information and constituting a change of opinion. The appeal by the assessee was allowed, with the reassessment deemed invalid both legally and on merits. The reassessment would have led to double addition of disclosed transactions, and the Tribunal noted the lack of concrete evidence supporting the reassessment. The order was pronounced on 16th May 2023. Case-Laws Income Tax Tue, 16 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443486