HC Quashes reopening notice issued merely based on change of opinion

Rama Devi Sabat Vs DCIT (Orissa High Court) Contending that the initiation of the reassessment proceedings was based merely on a change of opinion, the present petition has been filed. A perusal of the reasons mentioned above for reopening of the assessment reveals that there was no new material available with department. It is also evident that AO had applied his mind to the documents and records produced before him by the Assessee. This included the balance sheet, P & L Accounts and other relevant documents. It is plain, therefore, that the reopening of the assessment was not based on an...