https://www.taxtmi.com/caselaws?id=788068 Reasons for reopening under section 147 based on alleged discrepancies in financial statements, excess investment, interest on borrowings, utilisation of securities premium and Rule 8D adjustments were treated as reflecting scrutiny of records and a change of opinion rather than any failure to truly and fully disclose material facts necessary for assessment. The text also notes that the Special Leave Petition was dismissed for inordinate delay of 498 days because the explanation offered did not constitute sufficient cause. en-us Fri, 13 Mar 2026 00:00:00 +0530 Mon, 16 Mar 2026 08:42:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788068 Reasons for reopening under section 147 based on alleged discrepancies in financial statements, excess investment, interest on borrowings, utilisation of securities premium and Rule 8D adjustments were treated as reflecting scrutiny of records and a change of opinion rather than any failure to truly and fully disclose material facts necessary for assessment. The text also notes that the Special Leave Petition was dismissed for inordinate delay of 498 days because the explanation offered did not constitute sufficient cause. Case-Laws Income Tax Fri, 13 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788068