Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Reopening Based on Change of Opinion Invalid. The court held that without any new tangible material, the Assessing Officer cannot reopen an assessment completed under Section 143(3) beyond four years merely on a change of opinion.
10 Aug 2021The petitioner, Alok Knit Exports Limited (formerly Niraj Realtors and Shares Pvt. Ltd.), challenged a notice dated 30 March 2019 issued under Section...




