https://www.taxtmi.com/highlights?id=94917 HC quashed the reassessment notice issued to the petitioner under s.148 for AY 2019-20, holding the proceedings to be impermissible as a mere "change of opinion." The AO had already, on identical material arising from the same search, seizure and survey operation, accepted the version of both the petitioner and the transporter in the transporter's reassessment for AY 2019-20, namely, that no cash was returned to the petitioner against transportation bills. Initiating reassessment of the petitioner on the same transactions and information would amount to an impermissible review of the earlier decision. Consequently, the reassessment proceedings and notice were set aside. en-us Wed, 10 Dec 2025 08:41:44 +0530 Wed, 10 Dec 2025 08:41:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=94917 HC quashed the reassessment notice issued to the petitioner under s.148 for AY 2019-20, holding the proceedings to be impermissible as a mere "change of opinion." The AO had already, on identical material arising from the same search, seizure and survey operation, accepted the version of both the petitioner and the transporter in the transporter's reassessment for AY 2019-20, namely, that no cash was returned to the petitioner against transportation bills. Initiating reassessment of the petitioner on the same transactions and information would amount to an impermissible review of the earlier decision. Consequently, the reassessment proceedings and notice were set aside. Highlights Income Tax Wed, 10 Dec 2025 08:41:44 +0530 https://www.taxtmi.com/highlights?id=94917