https://www.taxtmi.com/caselaws?id=797610 Reassessment based on an alleged incorrect loss computation after a share split is impermissible where the original scrutiny assessment examined the same share transactions, valuation, purchase and sale details, capital gain or loss, and supporting records. Complete transaction, allotment and banking evidence had been furnished, and the reopening reasons identified neither fresh tangible material nor any failure to disclose material facts. Revisiting the tax effect of a 1:10 share split on previously scrutinised transactions constitutes a change of opinion. Reassessment requires fresh tangible material indicating escaped income and, where applicable, a failure of full and true disclosure. en-us Wed, 19 Aug 2026 00:00:00 +0530 Tue, 25 Aug 2026 08:34:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797610 Reassessment based on an alleged incorrect loss computation after a share split is impermissible where the original scrutiny assessment examined the same share transactions, valuation, purchase and sale details, capital gain or loss, and supporting records. Complete transaction, allotment and banking evidence had been furnished, and the reopening reasons identified neither fresh tangible material nor any failure to disclose material facts. Revisiting the tax effect of a 1:10 share split on previously scrutinised transactions constitutes a change of opinion. Reassessment requires fresh tangible material indicating escaped income and, where applicable, a failure of full and true disclosure. Case-Laws Income Tax Wed, 19 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797610