Madras HC Quashes Reassessment for Change of Opinion

Changepond Technologies Private Limited Vs ACIT (Madras High Court) Madras High Court has quashed a reassessment notice and order issued to Changepond Technologies Private Limited for the Assessment Year 2017-2018. The court ruled that the reassessment proceedings, initiated under Section 148 of the Income Tax Act, 1961, were based on a mere “change of opinion” by the Assessing Officer, which is impermissible after an original assessment has been completed under Section 143(3) of the Act. Changepond Technologies had challenged the notice dated March 29, 2021, and the subsequent ord...