https://www.taxtmi.com/caselaws?id=39640 The High Court held that a reassessment solely based on a successor Income-tax Officer's change of opinion, without new information, was not valid under section 147(b) of the Income-tax Act. The court emphasized the need to consider all relevant facts during the original assessment to prevent arbitrary reassessments. The reassessment in this case, which disallowed expenses previously allowed, was deemed a change of opinion without legal basis. The court ruled in favor of the assessee, rejecting the department's claim and highlighting the importance of adherence to legal requirements in reassessment proceedings. en-us Thu, 02 May 1974 00:00:00 +0530 Tue, 12 Nov 2019 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39640 The High Court held that a reassessment solely based on a successor Income-tax Officer's change of opinion, without new information, was not valid under section 147(b) of the Income-tax Act. The court emphasized the need to consider all relevant facts during the original assessment to prevent arbitrary reassessments. The reassessment in this case, which disallowed expenses previously allowed, was deemed a change of opinion without legal basis. The court ruled in favor of the assessee, rejecting the department's claim and highlighting the importance of adherence to legal requirements in reassessment proceedings. Case-Laws Income Tax Thu, 02 May 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39640