Mere change of opinion cannot be a ground for the re-opening of assessment
Last updated: 21 February 2023
Court :
Bombay High Court
Brief :
The Hon'ble Bombay High Court in Konark Life Spaces v. Assistant Commissioner of Income -Tax and Ors. [Writ Petition No. 2840 of 2022 dated February 10, 2023] has set aside the notice issued under Section 148 of the Income Tax Act, 1961 ("the IT Act") for re-opening of the assessment, on the grounds that the Revenue Department had neither sought any new information nor made a reference to new material on record. Held that, a change in opinion that does not satisfy the jurisdictional foundation under Section 147 of the IT Act.
Citation :
Writ Petition No. 2840 of 2022 dated February 10, 2023
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Bimal Jain
Published in Income Tax
Views : 238
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