Reopening of assessment u/s 148 for mere change of opinion is unsustainable

Mukand Limited Vs Union of India (Bombay High Court) Bombay High Court held re-opening of assessment under section 148 of the Income Tax Act for mere change of opinion is without jurisdiction and unsustainable in law. Facts- Petitioner has filed this petition challenging the legality and validity of notice dated 26th April 2011 issued by respondent no.2 under Section 148 of the Income Tax Act, 1961 (the Act). Conclusion- In this case, petitioner had filed all details and the subject of brought forward unabsorbed depreciation was also considered while passing the assessment order u/s. 143(3) of...