Change of Opinion Does Not Justify Assumption of Escaped Taxable Income

Mira Bhavin Mehta Vs ITO (Bombay High Court)

In a landmark judgment, the Bombay High Court in Mira Bhavin Mehta Vs Income Tax Officer (ITO) delved deep into the contentious issue of tax reassessment based on a change of opinion. This case provides pivotal insights into the interpretation and application of the Income Tax Act, 1961, particularly in the context of reassessment proceedings. The court’s decision not only illuminates the legal framework governing reassessment but also sets a significant precedent for future

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