https://www.taxtmi.com/caselaws?id=34748 The High Court dismissed the appeal, ruling that the reassessment under Section 147 for the assessment year 1995-96 was not valid as it constituted a change of opinion by the assessing Authority rather than an escapement of assessment. The denial of exemption under Section 54 was also deemed unjustified as it amounted to a change of opinion without any failure on the part of the assessee to disclose material facts. The Court held that there was no substantial question of law for consideration in this case. en-us Tue, 06 Oct 2009 00:00:00 +0530 Fri, 01 Feb 2013 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34748 The High Court dismissed the appeal, ruling that the reassessment under Section 147 for the assessment year 1995-96 was not valid as it constituted a change of opinion by the assessing Authority rather than an escapement of assessment. The denial of exemption under Section 54 was also deemed unjustified as it amounted to a change of opinion without any failure on the part of the assessee to disclose material facts. The Court held that there was no substantial question of law for consideration in this case. Case-Laws Income Tax Tue, 06 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34748