https://www.taxtmi.com/caselaws?id=757120 The HC quashed a notice u/s 148 for reopening assessment regarding unexplained SBN currency deposits during demonetization. The court held that since the SBN deposit issue was already examined in detail during the original scrutiny assessment u/s 143(3), raising the same objection again by the audit party constituted an impermissible change of opinion rather than valid grounds for reopening. Relying on Mangalam Publications, the court ruled that attempting to review the same issue was not permissible under settled law, deciding in favor of the assessee. en-us Tue, 30 Jul 2024 00:00:00 +0530 Mon, 09 Jun 2025 16:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757120 The HC quashed a notice u/s 148 for reopening assessment regarding unexplained SBN currency deposits during demonetization. The court held that since the SBN deposit issue was already examined in detail during the original scrutiny assessment u/s 143(3), raising the same objection again by the audit party constituted an impermissible change of opinion rather than valid grounds for reopening. Relying on Mangalam Publications, the court ruled that attempting to review the same issue was not permissible under settled law, deciding in favor of the assessee. Case-Laws Income Tax Tue, 30 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757120