Reassessment based on Materials already available during Regular Assessment is invalid

The Tinplate Company of India Ltd Vs DCIT (Calcutta High Court)

Introduction: The Calcutta High Court recently delivered a significant judgment in the case of The Tinplate Company of India Ltd Vs DCIT, challenging the legality of a notice under Section 148 of the Income Tax Act, 1961. The court held that the notice and proceedings under Section 147 are not sustainable, primarily due to a perceived change of opinion by the assessing officer.

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